Solana (SOL) has recorded a new all-time high in total locked value (TVL) on its DeFi protocols. This record move comes amid a dramatic bullish wave across the cryptocurrency industry.
According to a new report from DeFi Llama, the TVL on Solana’s DeFi protocol peaked at $12.7 billion earlier yesterday. This figure has since dropped to $12.3 billion at press time.
This new record is a significant milestone for the network, considering that before August, Solana‘s DeFi protocol did not exceed $1.5 billion in TVL.
One of the primary catalysts of the recent TVL boom is the growing interest in Marinade Finance, a liquid staking protocol on Solana. This particular protocol has recorded a 69% increase in TVL within the past week and currently occupies the number four currently in terms of projects with the highest liquidity, behind Sunny, Radium, and Saber.
Meanwhile, SOL has recorded a dramatic rally over the past few days following the recent Bitcoin spike. Over the past seven days, SOL has grown by over 28% and now trades above the $200 mark.
The total market valuation recently topped the $2.5 trillion mark as altcoins begin their ascent amid a correction in BTC.
Key Solana Levels to Watch — October 22
As mentioned earlier, SOL has regained a solid bullish momentum as it snaps the $200 resistance, coming a little over 4% from its all-time high at $216.
However, the cryptocurrency posted a minor correction near the $200 support over the past few hours but remains in close contact with our bullish arc. That said, we expect a retest and break above the $216 line in the coming hours.
Meanwhile, our resistance levels are $209, $216, and $220, and our key support levels are $150, $146, and $140.
Total Market Capitalization: $2.60 trillion
Solana Market Capitalization: $62.1 billion
Solana Dominance: 2.38%
Market Rank: #6
You can purchase crypto coins here: Buy Tokens
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.