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Solana price is riding a wave of upward momentum, nearly touching the $200 mark with its current steady stance in the $180-$190 bracket.
The 60% monthly surge in SOL’s price is partly driven by the buzz around meme coins such as Dogwifhat (WIF), BONK, SLERF, and Book of Meme (BOME), spotlighting the Solana network and sparking robust investment flows.
Concurrently, Solana’s DeFi sector growth and ecosystem solidity are bolstering investor trust, encouraging long-term holding over quick profit-taking in anticipation of further gains.
Solana’s DeFi Ecosystem Thrives, Pushing TVL Near $5 Billion
Solana’s decentralized finance (DeFi) sector is thriving, with its Total Value Locked (TVL) nearing $5 billion, a peak not seen since February 2022.
This growth highlights the rising confidence and engagement in Solana’s DeFi platforms, reflecting a robust trust in its financial ecosystem.
- Solana’s DeFi TVL’s surge to almost $5 billion underlines increased investment.
- Despite market fluctuations, the growing TVL indicates sustained investor interest in Solana’s DeFi.
- This uptrend suggests potential long-term value growth for Solana’s native token, SOL, as it becomes a preferred choice for DeFi activities.
