{"id":583590,"date":"2023-08-09T09:07:36","date_gmt":"2023-08-09T08:07:36","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=583590"},"modified":"2023-08-09T09:07:51","modified_gmt":"2023-08-09T08:07:51","slug":"solanas-tvl-grows-by-14-in-the-last-month-outperforming-ethereum-bsc-and-avalanche","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/solanas-tvl-grows-by-14-in-the-last-month-outperforming-ethereum-bsc-and-avalanche\/","title":{"rendered":"Solana&#8217;s TVL Grows by 14% in the Last Month, Outperforming Ethereum, BSC, and Avalanche"},"content":{"rendered":"<ul>\n<li><em>Solana&#8217;s TVL climbed by almost 15% in the last month.<\/em><\/li>\n<li><em>While user activity declined during the same period, the network saw growth in transaction fees and revenue.<\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Solana registered a total value-locked (TVL) growth of 14% in the last month, while other leading chains suffered a decline, data from <\/span><a href=\"https:\/\/twitter.com\/MessariCrypto\/status\/1688634256577175552?t=h9Zoled1b8wgOhdzBg1oUA&amp;s=19\" target=\"_blank\" rel=\"noopener nofollow\"><span style=\"font-weight: 400;\">Messari<\/span><\/a><span style=\"font-weight: 400;\"> revealed.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Solana managed to grow its TVL last month, as most major chains declined <a href=\"https:\/\/t.co\/zVwUgy7Mtp\" rel=\"nofollow\">pic.twitter.com\/zVwUgy7Mtp<\/a><\/p>\n<p>&mdash; Messari (@MessariCrypto) <a href=\"https:\/\/twitter.com\/MessariCrypto\/status\/1688634256577175552?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">While last year\u2019s downtimes and the seven major exploits the chain experienced in 2022 led to a severe decline in its TVL, the year so far has been different. Per <a href=\"https:\/\/defillama.com\/chain\/Solana\" target=\"_blank\" rel=\"noopener nofollow\">Messari<\/a>, Solana\u2019s TVL at the beginning of the year was $209.25 million. Growing by 217% since then, the Layer 1 (L1) network\u2019s TVL was $664 million at press time.\u00a0<\/span><\/p>\n<figure id=\"attachment_583595\" aria-describedby=\"caption-attachment-583595\" style=\"width: 1798px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583595\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18.png\" alt=\"\" width=\"1798\" height=\"706\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18.png 1798w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-300x118.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-1024x402.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-770x302.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-1536x603.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-500x196.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-269x106.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-746x293.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.49.18-1376x540.png 1376w\" sizes=\"(max-width: 1798px) 100vw, 1798px\" title=\"\"><figcaption id=\"caption-attachment-583595\" class=\"wp-caption-text\">Source: Messari<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">As Solana registered a TVL uptick in the last month, other top L1 networks Ethereum, Binance Smart Chain, and Avalanche, saw respective declines of 13%, 6%, and 10%.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regarding Layer 2 (L2) scaling solutions, Arbitrum saw its TVL fall by 7% in the last month. Optimism, however, fared better as the rollup network logged a 10% jump in its TVL during the same period.\u00a0<\/span><\/p>\n<h4><b>State of Solana<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Despite registering a TVL growth in the last month, user activity on Solana suffered a shortfall. Per data from <\/span><a href=\"https:\/\/tokenterminal.com\/terminal\/projects\/solana\" rel=\"nofollow noopener\"><span style=\"font-weight: 400;\">Token Terminal<\/span><\/a><span style=\"font-weight: 400;\">, the network registered a 5% decline in active user count in the past 30 days.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For context, user activity on the chain has been on a steady decline in the last year, primarily due to the several downtimes and exploits the network suffered during that period. In the past 180 days, daily active user count dropped by 15%. In the last 12 months, this fell by over 50%.<\/span><\/p>\n<figure id=\"attachment_583596\" aria-describedby=\"caption-attachment-583596\" style=\"width: 2010px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583596\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33.png\" alt=\"\" width=\"2010\" height=\"1042\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33.png 2010w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-300x156.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-1024x531.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-770x399.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-1536x796.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-500x259.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-269x139.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-746x387.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.33-1376x713.png 1376w\" sizes=\"(max-width: 2010px) 100vw, 2010px\" title=\"\"><figcaption id=\"caption-attachment-583596\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The 1.6% drop in active user activity on Solana last week reduced trading volume across the decentralized exchanges hosted on the chain. zkSync, with a much lower TVL, exceeded Solana in DEX volume during that period, on-chain data revealed.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Zk Sync did more dex volume than Solana last week and Pulse Chain did more than Avalanche <a href=\"https:\/\/t.co\/4clej4w12q\" rel=\"nofollow\">pic.twitter.com\/4clej4w12q<\/a><\/p>\n<p>&mdash; Size Chad (@SizeChad) <a href=\"https:\/\/twitter.com\/SizeChad\/status\/1688953006631354368?ref_src=twsrc%5Etfw\" rel=\"nofollow noopener\">August 8, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">However, a silver lining exists. While user activity and trading volume suffered a decline, Solana\u2019s transaction fees and network revenue surged. Per data from <a href=\"https:\/\/analytics.solscan.io\/\" target=\"_blank\" rel=\"noopener nofollow\">Solscan<\/a>, network fees charged for successful non-vote transactions climbed to a high of 53.06 SOL on 2 August.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">While it has since declined, this represented a significant growth in network fees from 31.64 SOL recorded a month ago.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">A broader assessment of all network fees revealed a 50% jump in the last month. Solana also saw a corresponding hike in revenue during the same period. On an annualized basis, the L1\u2019s revenue has gone up by 21%.<\/span><\/p>\n<figure id=\"attachment_583597\" aria-describedby=\"caption-attachment-583597\" style=\"width: 2010px\" class=\"wp-caption alignnone\"><img class=\"size-full wp-image-583597\" src=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18.png\" alt=\"\" width=\"2010\" height=\"840\" srcset=\"https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18.png 2010w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-300x125.png 300w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-1024x428.png 1024w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-770x322.png 770w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-1536x642.png 1536w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-500x209.png 500w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-269x112.png 269w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-746x312.png 746w, https:\/\/en.ethereumworldnews.com\/wp-content\/uploads\/2023\/08\/Screenshot-2023-08-09-at-08.50.18-1376x575.png 1376w\" sizes=\"(max-width: 2010px) 100vw, 2010px\" title=\"\"><figcaption id=\"caption-attachment-583597\" class=\"wp-caption-text\">Source: Token Terminal<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Solana&#8217;s TVL climbed by almost 15% in the last month. While user activity declined during the same period, the network saw growth in transaction fees and revenue. Solana registered a total value-locked (TVL) growth of 14% in the last month, while other leading chains suffered a decline, data from Messari revealed.\u00a0 Solana managed to grow its TVL last month, as most major chains declined pic.twitter.com\/zVwUgy7Mtp &mdash; Messari (@MessariCrypto) August 7, 2023 While last year\u2019s downtimes and the seven major exploits [&hellip;]<\/p>\n","protected":false},"author":63,"featured_media":583598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[825,947,108120,2,108340],"tags":[108708,108363,108237,7322,7092,7002,108554,109044,108360],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583590"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/63"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=583590"}],"version-history":[{"count":4,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583590\/revisions"}],"predecessor-version":[{"id":583601,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/583590\/revisions\/583601"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/583598"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=583590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=583590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=583590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}