Total value locked in Solana’s DeFi ecosystem has surpassed 20 billion dollars for the first time, driven by growth in liquid staking protocols and decentralised exchanges. The milestone represents a fivefold increase from the same period last year.
Marinade Finance and Jito lead the TVL rankings with 4.2 billion and 3.8 billion dollars respectively. Jupiter DEX aggregator has become the most-used DeFi application across all blockchain networks by transaction count, processing over 2 million swaps daily.
The growth reflects Solana’s improving network stability and sub-second transaction finality attracting both retail and institutional DeFi users. The network has maintained 99.9 percent uptime over the past six months, a significant improvement from earlier reliability issues.
Institutional interest has been bolstered by several major asset managers launching Solana-focused investment products. Galaxy Digital and Pantera Capital have both increased their Solana allocations in recent portfolio rebalances.
Developers continue to flock to the ecosystem, with Solana ranking second only to Ethereum in monthly active developer count according to Electric Capital’s latest report. New project launches on Solana have averaged 45 per week this quarter.