As of October 22, the total value locked (TVL) in the Solana 
$198 (SOL) network has seen a significant increase. According to data from DeFi data provider DefiLlama, Solana’s TVL value has reached 6.43 billion dollars, marking the highest level since January 2022. This development is regarded as a herald of substantial activity within the Solana network.
Solana’s TVL Increase Could Signal a New Era in the Sector
The fluctuations and price movements that Solana has experienced over the past two years have once again drawn investor interest to the network with this new TVL peak. Following a general downturn in the cryptocurrency market at the beginning of 2022, Solana has begun to assume a significant role in the sector with its 6.43 billion dollar TVL.
Daily volume data is also noteworthy. The daily trading volume on Solana stands at 2.41 billion dollars, while the number of active addresses on the network has risen to 7,620, indicating increased user interest. Additionally, there have been new inflows of 491 million dollars into the network. These developments paint an encouraging picture for the future of the network.
SOL’s Rise in the Cryptocurrency Market
The rise within the Solana ecosystem is not limited to TVL alone. The price of SOL, the network’s main asset, has surged more than 7% over the past week, nearing 166 dollars.
The market cap of the altcoin has reached 77.84 billion dollars. All of these figures indicate that Solana may be poised to occupy an even stronger position in the cryptocurrency market in the future, and investors are closely monitoring these signals. Currently, SOL stands as the 5th largest asset in the cryptocurrency market and the 4th largest in the altcoin market.
Despite these developments, SOL is currently priced at 36.18% below its all-time high (ATH) of 260.06 dollars, achieved on November 7, 2021.
