{"id":34688,"date":"2022-11-10T08:32:45","date_gmt":"2022-11-10T08:32:45","guid":{"rendered":"http:\/\/egrowonline.com\/?p=34688"},"modified":"2022-11-10T08:32:45","modified_gmt":"2022-11-10T08:32:45","slug":"solana-tvl-drops-32-4-as-ftx-turmoil-rocks-ecosystem","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=34688","title":{"rendered":"Solana TVL drops 32.4% as FTX turmoil rocks ecosystem"},"content":{"rendered":"


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The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem.\u00a0<\/p>\n

According<\/a> to DefiLlama, at the time of writing, Solana\u2019s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far cry from its all-time-high (ATH) of $10.17 billion on Nov. 9, 2021. <\/p>\n

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Total value locked within the Solana ecosystem Source: DefiLlama<\/em><\/figcaption><\/figure>\n

TVL measures the total value of all assets locked into decentralized finance (DeFi)<\/a> protocols. As TVL increases, that means more coins are deposited within the DeFi protocols and can indicate bullish sentiment, while a falling TVL shows that investors are pulling their funds out of the ecosystem for one reason or another.<\/p>\n

The fall in TVL went as far as a 51.7% decline over 24 hours, however, but slightly corrected leading up to the writing of this article.<\/p>\n

The Solana-based liquid staking protocol Marinade Finance has seen the biggest loss in TVL on the chain, having fallen 35.1% to $115.79 million within the last 24 hours.<\/p>\n

Other major protocols on Solana have seen similar decreases over the last 24 hours, with automated market maker Raydium down 34.25%, liquid staking protocol Lido down 43.13% and lending protocol Solend down 63.07%.<\/p>\n

Other leading blockchains have also seen decreases in TVL over the same time period, with Ethereum down 10.59%, BNB Chain down 9.68% and Tron down 8.84%.<\/p>\n