Solana 
$83 (SOL), one of the most significant cryptocurrency networks, has gained an edge, especially since Trump took office. Trump’s release of his cryptocurrency on Solana and its addition to the stock list further boosted its prominence. While many focus on the price, several metrics suggest that Solana’s long-term growth signifies more than its spot price.
Solana’s Promising Developments
In the second quarter, Solana experienced several significant advancements, one of which was the approval of the Rex-Osprey Solana Staking ETF. This marked the first staking crypto ETF approval for Solana. The growth of its DeFi Total Value Locked (TVL) continued, with Messari data indicating more than a 30% increase compared to the previous quarter. The Solana network, which reached $8.6 billion in the prior quarter, greatly benefited from the expansion at Kamino.
Representing 25.3% of the network’s total locked value, Kamino grew by 33.9% compared to the previous quarter. The Kamino Lend V2, launched in May, played a substantial role in the $2.1 billion TVL.
Raydium saw a 53.5% increase from the previous quarter, with its TVL reaching $1.8 billion, placing it in second position.
The third most notable protocol on the network was Jupiter. It achieved a quarterly rise of 13.2%, reaching a TVL of $1.6 billion and holding a 19.4% market share. In May, similar to Kamino, it announced its own Lend platform with Fluid support.
Currently, Solana’s network TVL has significantly increased to $11.74 billion at the end of the second quarter. It is nearing levels seen during the meme coin hype period at the start of 2025. During that time, Solana network experienced unprecedented growth and attracted massive liquidity, heavily influenced by Trump’s impact.
The TVL rankings among protocols have also changed compared to the second quarter. Jito now holds the top spot with a size of $3.24 billion, Jupiter has risen to second place, and Kamino has become third. Raydium has climbed to sixth place.
SOL Coin Price Dynamics
SOL Coin has initiated a promising rebound against the USD, testing the key $214 region. It has approached this region at least eight times and hasn’t surpassed it for 208 days. After regaining this level, it could swiftly return to the $224-$261 range. The general market sentiment is supportive, and with BTC maintaining the $112,500 support, the short-term outlook appears positive.
