Ethereum

Solana

In October, <a href="https://optimisus.com/news/blockchain-news/travala-com-integrates-the-solana-network-across-the-platform-to-provide-sol-travel-rewards/" rel="noopener noreferrer nofollow">Solana achieved a remarkable milestone,</a> with its total value locked (TVL) exceeding $6.1 billion, the highest it has been since January 2022. This surge indicates a growing trust and engagement among users on the platform.TVL is an important metric in decentralized finance (DeFi) that reflects the total value of assets held in various projects. An increase in TVL typically points to more users investing their assets in these protocols, showcasing a rise in demand and confidence in the platform.Notably, over 40 million SOL tokens are currently locked in DeFi protocols, a significant jump from just 14 million at the start of 2024. This growth in TVL isn&#39;t solely attributed to the rising price of SOL; it also highlights a growing trend of users committing their assets to these protocols.A key player in this growth is Raydium, a decentralized exchange (DEX) on <a href="https://optimisus.com/market/market-news/solana-mobile-unveils-its-new-model-seeker/" rel="noopener noreferrer nofollow">Solana</a>, which has played a pivotal role in boosting the platform&#39;s TVL. Since early October, Solana&#39;s TVL has increased by $1 billion, with Raydium contributing a substantial $600 million to this figure. The excitement surrounding meme coins has driven a spike in trading activity on decentralized exchanges, further fueling Raydium&#39;s success.Meme coins have become a significant source of enthusiasm within the Solana ecosystem, with their market capitalization exceeding $11.2 billion and daily trading volumes nearing $4 billion. In September alone, Raydium captured a 22% market share, processing an impressive $21.5 billion in trading volume.Moreover, Solana&#39;s network activity has reached unprecedented levels, with over 4 million daily active addresses recorded in October. This figure has remained above 3 million since September, indicating robust user growth.Additionally, the creation of new addresses has hit all-time highs, with over 4 million new accounts established daily, reflecting a surge in user interest and investment.

Solana's total value locked surpasses $6.1 billion in October

Optimisus

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