Solana hits new TVL record despite falling volume
- Solana's TVL exceeds $31 billion
- Circle accounts for 28% of the blocked value
- Trading volume down 84% since January
Following Ethereum's recent all-time high, Solana also reached a significant milestone. Data from Token Terminal indicates that Solana's total value locked (TVL) surpassed $31 billion on August 14, surpassing the previous record of $30,8 billion set in January. This growth occurs even though the SOL cryptocurrency is trading at $186—about 37% below its all-time high of $293.

The current growth of the Solana ecosystem isn't tied to the memecoin frenzy, as it was at the beginning of the year, but rather to a more consolidated foundation. Circle, responsible for issuing USDC, is the main participant in this growth, with $8,7 billion allocated to the network, representing 28% of the total TVL. Protocols like Kamino (lending), Jupiter (DEX aggregator), and Jito (liquid staking) have a combined $10,7 billion in locked value, sustaining liquidity on the blockchain.
Despite the decline in retail interest in memecoins, institutional capital and real-world usage in DeFi protocols are keeping the ecosystem healthy. The numbers reinforce this shift: Solana's weekly trading volume fell from $103 billion in January to $16,9 billion today—an 84% drop. Cumulative fees also followed suit, falling from $530 million to $72,3 million in the same period.
Even with declining trading and revenue, funds continue to flow into decentralized applications, indicating a maturing ecosystem. The new TVL record suggests that Solana may be less dependent on speculative cycles and more anchored in real utility.
With the strengthening of established protocols and increasing liquidity, Solana now exhibits more consistent fundamentals for a potential bullish resumption. This continued growth could occur even in environments of less euphoria in the cryptocurrency market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Pudgy Penguins NFT surpasses Bored Ape in one month: A quick overview of what the PENGU token is
PENGU is the official token of the Pudgy Penguins NFT series and will be launched on the Solana blockchain by the end of 2024. Pudgy Penguins is an NFT project featuring 8,888 unique penguin images, initially released on Ethereum, and has now become the second-largest NFT project by market capitalization. The launch of PENGU aims to expand the community, attract new users, and is planned for deployment on multiple blockchains. The total token supply is 88,888,888,888, allocated to the community, liquidity pools, project team, and others. Solana was chosen to reach a new audience and leverage its fast transactions and low-cost advantages. Summary generated by Mars AI This summary is generated by the Mars AI model, and the accuracy and completeness of its content are still in the process of iterative improvement.

Glassnode: Bitcoin Weakly Fluctuates, Is Major Volatility Coming?
If signs of seller exhaustion begin to appear, a short-term move towards $95,000 and the short-term holder cost basis is still possible.

Should You Still Believe in Crypto
No industry has always been right from the beginning, until it truly changes the world.

Zeus unveils institutional-grade MPC infrastructure blueprint at Solana Breakpoint 2025, enabling Bitcoin to enter Solana’s on-chain capital markets
The focus will now shift to building MPC tools and providing support for developers, driving the creation of more native UTXO applications on Solana.

