Solana TVL hits a new high in SOL valuation, DEX is active, but the price of SOL is still under pressure

Odaily Planet Daily reports that despite the price of SOL falling 9% from March 28 to April 4, on-chain indicators for Solana continue to strengthen. On April 2, the total value locked (TVL) in Solana's network DApps reached a new high since June 2022 of 53.8 million SOL, equivalent to $6.5 billion USD, leading BNB Chain by about $780 million USD. The main DApps include Jito, Jupiter and Kamino.

During the same period, DEX trading volume showed strength with Solana occupying a market share of 24%, surpassing BNB Chain (12%) and Base (10%). However, on April 4th there was significant selling pressure as approximately1.79 million SOL were unlocked and released into circulation; coupled with the cooling off of memecoin popularity this creates some uncertainty for short-term price recovery. Despite facing MEV controversy, Solana continues to receive support from developers and users due to its underlying scalability and Web3 experience which solidifies its second place position among decentralized platforms.