{"id":651384,"date":"2024-11-03T22:00:29","date_gmt":"2024-11-03T22:00:29","guid":{"rendered":"https:\/\/ktsl888.com\/?p=651384"},"modified":"2024-11-03T12:00:21","modified_gmt":"2024-11-03T12:00:21","slug":"solana-defi-momentum-soars-with-5-7-billion-locked-in-q3","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana-defi-momentum-soars-with-5-7-billion-locked-in-q3\/","title":{"rendered":"Solana DeFi Momentum Soars With $5.7 Billion Locked In Q3"},"content":{"rendered":"<p>Solana continues to prove that it\u2019s one of the top blockchains for this cycle. After its rally, which gained 35% over the past 60 days, the popular Layer 1 blockchain is back in the news with more on-chain activities.<\/p>\n<p>According to recent data, Solana\u2019s DeFi Total Value Locked or TVL increased to $5.7 billion in the third quarter, reflecting a 26% improvement from the previous quarter.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/will-bitcoin-hit-176k-anthony-scaramucci-lays-out-his-high-stakes-forecast\/\" target=\"_blank\" rel=\"noopener \">Will Bitcoin Hit $176K? Anthony Scaramucci Lays Out His High-Stakes Forecast<\/a><\/div>\n<p>Kamino, a crypto lending service, leads the count with $1.5 billion in TVL and an impressive 7% Quarter-on-Quarter growth, helped by jupSOL and PYUSD additions. Recent data also suggests that Solana\u2019s market cap is now $3.8 billion, an improvement of 23%, boosted by the integration of PayPal\u2019s PYUSD.<\/p>\n<h2><strong>DeFI Continues To Drive Growth For Solana<\/strong><\/h2>\n<p>Solana DeFi tops the chain&#8217;s activities with a total locked value, worth $5.7 billion. This latest SOL data reflects a solid 26% growth QoQ, pushing the blockchain to become third largest in this metric, surpassing Tron.<\/p>\n<p>In a <a href=\"https:\/\/messari.io\/report\/state-of-solana-q3-2024\" target=\"_blank\" rel=\"noopener nofollow\">Messari report,<\/a> Solana\u2019s TVL increased due to increased activities for Kamino, which accounted for $1.5 billion of the total contracts locked. Kamino\u2019s recent quarterly figure represents a 57% rise, thanks to the recent integration of jupSOL and PYUSD.<\/p>\n<figure id=\"attachment_651385\" aria-describedby=\"caption-attachment-651385\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-651385 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/a_08c8cd.png?resize=1024%2C573\" alt=\"\" width=\"1024\" height=\"573\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/a_08c8cd.png?w=1227 1227w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/a_08c8cd.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/a_08c8cd.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/a_08c8cd.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/a_08c8cd.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/a_08c8cd.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-651385\" class=\"wp-caption-text\">Source: Messari<\/figcaption><\/figure>\n<p>Aside from Kamino Finance, Solana\u2019s blockchain featured locked assets for Raydium, with $1.1 billion, and Jupiter, with $749 million. Kamino Finance\u2019s impressive performance is linked to its Kamino Lend V2 launch, offering a permissionless vault and market layer.<\/p>\n<p>Analysts expect Kamino Finance to continue its dominance by adding new projects like the Spot Leverage and Lending Orderbook.<\/p>\n<figure style=\"width: 1835px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/749KVbMH\/\" width=\"1835\" height=\"883\"><figcaption class=\"wp-caption-text\">Total crypto market cap currently at $2.2 trillion. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/figcaption><\/figure>\n<h2><strong>Solana DEX Shows Signs Of Slowing Down<\/strong><\/h2>\n<p>Solana&#8217;s DEX activity was down 10% QoQ but rebounded a bit by October. The average daily volume on the blockchain&#8217;s exchange hit $1.7 billion, largely because of a fall in meme coins.<\/p>\n<p>Raydium retains its dominance on Solana\u2019s DEX, with a 51% market share, although its daily average volume dipped by 13% to $852 million. The volume increased by $350 million with the release of Moonshot, a crypto mobile trading app.<\/p>\n<p>Jupiter also stayed at the top, cornering 43% of the total spot exchange volume. Recent developments, including the release of Jupiter Mobile and the integration of Google Pay and Apple Pay, helped the platform.<\/p>\n<figure id=\"attachment_651386\" aria-describedby=\"caption-attachment-651386\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-651386 size-full\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/aa.png?resize=1024%2C579\" alt=\"\" width=\"1024\" height=\"579\" srcset=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/aa.png?w=1227 1227w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/aa.png?w=460 460w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/aa.png?w=768 768w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/aa.png?w=860 860w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/aa.png?w=750 750w, https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/11\/aa.png?w=1140 1140w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-651386\" class=\"wp-caption-text\">Source: <a href=\"https:\/\/messari.io\/report\/state-of-solana-q3-2024\" target=\"_blank\" rel=\"noopener nofollow\">Messari<\/a><\/figcaption><\/figure>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin-breaks-73000-yet-google-searches-stay-stagnant-is-hype-fading\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant\u2014Is Hype Fading?<\/a><\/div>\n<h3><strong>SOL\u2019s Stablecoins Get Help From PYUSD<\/strong><\/h3>\n<p>In the same Messari report, PayPal&#8217;s PYUSD lifts SOL\u2019s stablecoin market. The PYUSD was launched in May in Solana, which is mainly instrumental in its market cap growth, which now stands at $3.8 billion. With exciting features like programmable transfers and transfer hooks, PayPal\u2019s PYUSD became instantly popular.<\/p>\n<p>Aside from PYUSD, USDC also contributes to Solana\u2019s stablecoins market. Circle\u2019s integration of Web 3.0 services for SOL provides enterprise functionality features like fee sponsorship and programmable wallets, allowing developers to integrate multi-chain solutions quickly.<\/p>\n<p><em>Featured image from StormGain, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Solana continues to prove that it\u2019s one of the top blockchains for this cycle. After its rally, which gained 35% over the past 60 days, the popular Layer 1 blockchain is back in the news with more on-chain activities. According to recent data, Solana\u2019s DeFi Total Value Locked or TVL increased to $5.7 billion in the third quarter, reflecting a 26% improvement from the previous quarter. Related Reading: Will Bitcoin Hit $176K? Anthony Scaramucci Lays Out His High-Stakes Forecast Kamino, a crypto lending service, leads the count with $1.5 billion in TVL and an impressive 7% Quarter-on-Quarter growth, helped by jupSOL and PYUSD additions. Recent data also suggests that Solana\u2019s market cap is now $3.8 billion, an improvement of 23%, boosted by the integration of PayPal\u2019s PYUSD. DeFI Continues To Drive Growth For Solana Solana DeFi tops the chain&#8217;s activities with a total locked value, worth $5.7 billion. This latest SOL data reflects a solid 26% growth QoQ, pushing the blockchain to become third largest in this metric, surpassing Tron. In a Messari report, Solana\u2019s TVL increased due to increased activities for Kamino, which accounted for $1.5 billion of the total contracts locked. Kamino\u2019s recent quarterly figure represents a 57% rise, thanks to the recent integration of jupSOL and PYUSD. Aside from Kamino Finance, Solana\u2019s blockchain featured locked assets for Raydium, with $1.1 billion, and Jupiter, with $749 million. Kamino Finance\u2019s impressive performance is linked to its Kamino Lend V2 launch, offering a permissionless vault and market layer. Analysts expect Kamino Finance to continue its dominance by adding new projects like the Spot Leverage and Lending Orderbook. Solana DEX Shows Signs Of Slowing Down Solana&#8217;s DEX activity was down 10% QoQ but rebounded a bit by October. The average daily volume on the blockchain&#8217;s exchange hit $1.7 billion, largely because of a fall in meme coins. Raydium retains its dominance on Solana\u2019s DEX, with a 51% market share, although its daily average volume dipped by 13% to $852 million. The volume increased by $350 million with the release of Moonshot, a crypto mobile trading app. Jupiter also stayed at the top, cornering 43% of the total spot exchange volume. Recent developments, including the release of Jupiter Mobile and the integration of Google Pay and Apple Pay, helped the platform. Related Reading: Bitcoin Breaks $73,000, Yet Google Searches Stay Stagnant\u2014Is Hype Fading? SOL\u2019s Stablecoins Get Help From PYUSD In the same Messari report, PayPal&#8217;s PYUSD lifts SOL\u2019s stablecoin market. The PYUSD was launched in May in Solana, which is mainly instrumental in its market cap growth, which now stands at $3.8 billion. With exciting features like programmable transfers and transfer hooks, PayPal\u2019s PYUSD became instantly popular. Aside from PYUSD, USDC also contributes to Solana\u2019s stablecoins market. Circle\u2019s integration of Web 3.0 services for SOL provides enterprise functionality features like fee sponsorship and programmable wallets, allowing developers to integrate multi-chain solutions quickly. Featured image from StormGain, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":651398,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[142,6664,54512,12837,83626,84310],"class_list":["post-651384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-altcoins","tag-crypto","tag-defi","tag-sol","tag-solana","tag-tvl"],"acf":[],"yoast_head":"\n<title>Q3 Milestone: Solana DeFi Landscape Expands As TVL Reaches $5.7 Billion<\/title>\n<meta name=\"description\" content=\"Solana continues to prove that it\u2019s one of the top blockchains for this cycle. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. 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