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Top 10 Solana Projects Reaches ATH | DApps, Smart Contracts, and Protocols

Urian B., Tech Times

(Photo : Image from Unsplash Website) Top 10 Solana Projects Reaches ATH | DApps, Smart Contracts, and Protocols

Solana has just recently reached its all-time high, but a lot of people don’t know that there are some new and upcoming projects already set to be built on SOL. As of the moment, Solana was able to solidify a whopping $14.9 billion in total value lock.

Solana Projects Reach Massive TVL Growth

As per the data from DefiLlama and shared by CryptoRank Platforms on Twitter, the total value that was locked across the whole spectrum of smart contracts, protocols, and even DApps that were all built on Solana has now just reached its ATH. For those that want to know more about what might go on in the crypto world, take a closer look at the top 10 projects based on TVL growth.

As of the moment, SOLEND has taken the top with a whopping +326% increase in TVL, shooting up to $859M in the last seven days. It is important to note that we will be ranking based on TVL growth and not total TVL locked for this article.

Top 10 Solana Projects Based on TVL Over the Last 7 Days:

1. Solend

Increased by 326 percent

Total TVL of $859 million

2. Francium

Increased by 42.5 percent

Total TVL of $106 million

3. Mango Markets

Increased by 31.1 percent

Total TVL of $188 million

4. Atrix

Increased by 24.9 percent

Total TVL of $446 million

5. Marinade Finance

Increased by 21.3 percent

Total TVL of $18 billion

6. Soclean

Increased by 19.8 percent

Total TVL of $143 million

7. Port Finance

Increased by 19.3 percent

Total TVL $237 million

8. Orca

Increased by 16.2 percent

Total TVL $1.3 billion

9. Serum

Increased by 15.3 percent

Total TVL $1.8 billion

10. Raydium

Increased by 13.2 percent

Total TVL $2.05 billion

What is Solana?

According to the description on CoinGecko, Solana is reportedly a general-purpose blockchain that is quite similar to the more popular Ethereum. It reportedly has quite a different technical underlying, like developers will be able to write their applications through the use of Rust instead of Vyper or Solidity.

As of the moment, end-user applications include decentralized finance or DeFi, marketplaces, non-fungible tokens or NFT, games, and more! One of the largest features is its own scalability in which Solana is now able to process more than 700,000 transactions a second.

Read Also: NBA Champion Kevin Durant Launches SPAC to Focus on Tech-Driven Businesses Including Crypto Enterprises

Solana ‘Serum’

It was noted that its high throughput capacity actually appeals to certain high-frequency traders, which both FTX and Alameda Research spearheaded. It was stated that the first use case for DeFi application on Solana is said to be Serum which was built by the team that is behind FTX. KuCoin is currently joining the metaverse with its own 21-level virtual office, which represents the 21 million supply of Bitcoin.

It was stated that Solana’s native currency, which is SOL, is actually used to pay for certain transaction fees and stakes for it to support the network. It was stated that the SOL coin could actually be bought on exchanges like Coinbase, FTX, Kraken, and others. Axie Infinity has just launched its Katana DEX on Ronin, which was able to reach 170,000 transactions already!

Related Article: IoTeX Climbs from All Time Low of $0.00121576 to All Time High at $0.151594

This article is owned by Tech Times

Written by Urian B.

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