The year is going to end and this had not been ideal for the Solana blockchain network. As indicated by late reports, Solana's all-out esteem locked (TVL) on its Defi conventions has dropped by 98%.
The absolute worth locked or TVL incorporates every one of the local badges of the blockchain kept in various elements of the organization including marking, liquidity pools, and loaning pools.
As per the on-chain information, the complete TVL of Solana topped thirteen months back in Nov 2021 by crossing the sign of $10 billion. Be that as it may, from that point forward, the crypto market has gone through an extreme bloodbath and Solana needed to experience the most obviously terrible of its effects.
By and by, the TVL for Solana is floating near $214 million which is just 2% of everything time high. Marinade Money has the greatest worth of Solana tokens secured in its fluid marking stage in view of its blockchain. Marinade Money holds 34.57% or $74.32 million of the all-out TVL followed by Orca, Raydium, and Lido with $32.22 million, $29.77 million, and $27.93 million separately.
Is Solana Dead?
FTX was one of the most conspicuous holders of Solana tokens and its unexpected accident has deeply affected this blockchain. At the point when FTX unloaded Solana which was valued at more than $500 million on the lookout, a progression of frenzy selling began on the lookout. The mass dump of the tokens has pushed its costs to the most reduced however the venture isn't dead in any way.
Solana is an area of strength that tackles the versatility issues of Ethereum successfully. While the market is down, the local area is zeroing in on building a biological system of strong decentralized applications. The outrageous throughput pace of the Solana blockchain network will undoubtedly make this a broadly famous groundwork for impending Defi projects. It is inevitable before Solana recuperates and recaptures its actual worth.