Solana TVL Hits All-Time High in SOL Terms, DEX Activity High, But SOL Price Still Under Pressure

On April 6th, as per Cointelegraph, although SOL's price declined by 9% from March 28th to April 4th, Solana's on-chain metrics have remained robust. On April 2nd, the total value locked (TVL) for DApps on the Solana network reached 53.8 million SOL, attaining a new high since June 2022, which is equivalent to $6.5 billion, and leading BNB Chain by around $780 million. The key DApps include Jito, Jupiter, and Kamino. Simultaneously, DEX trading volume has demonstrated strength, with Solana capturing a 24% market share, surpassing BNB Chain (12%) and Base (10%). However, on April 4th, a substantial unlock of 1.79 million SOL generated selling pressure, combined with a decreasing interest in memecoins, resulting in uncertainty regarding a short-term price rebound. Despite being embroiled in MEV controversies, Solana continues to receive developer and user support in terms of underlying scalability and Web3 experience, thereby solidifying its position as the second-largest decentralized platform.