Solana DeFi Skyrockets: Driven by Institutional Backing, Market Growth Takes Flight

Solana’s decentralized finance (DeFi) ecosystem is experiencing a surge in growth, fueled by institutional investment and increased activity on the network. This has resulted in a significant rise in Total Value Locked (TVL), exceeding $14.18 billion, marking a 60% increase compared to previous Q2 lows. The driving force behind this growth lies in stablecoin inflows, particularly USDC, which now represents over 70% of Solana’s stablecoin market share. This rise is also being bolstered by the network’s improved reliability and scalability upgrades, attracting both institutional investors and retail speculators.