While DeFi is enjoying a re-pricing following Ether’s new highs, the total value locked in the entire ecosystem has gone past $100 billion and aiming for a $150 billion mark now.

Ethereum no doubt remains the leading layer 1 blockchain with almost $90 billion TVL followed by Binance Smart Chain’s (BSC) $56 billion. ETH 3.83% Ethereum / USD ETHUSD $ 3,431.25
$131.42 3.83% Volume 50.99 b Change $131.42 Open $3,431.25 Circulating 115.75 m Market Cap 397.17 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=ETH&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 22 min Ether Retraces to Trade Under $3,400 But Several Catalysts Are Still Present to Sent it Higher 1 h Raydium (RAY) Alone Accounts for Nearly 90% of Solana Ecosystem’s TVL 2 h Bitcoin and Ether Aren't the Top Traded Crypto's on Binance Or the Biggest South Korean Exchange BNB 4.93% Binance Coin / USD BNBUSD $ 647.57
$31.93 4.93% Volume 4.48 b Change $31.93 Open $647.57 Circulating 153.43 m Market Cap 99.36 b baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=BNB&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 1 h Raydium (RAY) Alone Accounts for Nearly 90% of Solana Ecosystem’s TVL 3 h Binance Smart Chain (BSC) Is Feeling the Pressure of the Heightened Network Demand 4 h Solana Hits its First $1 Billion Milestone in Total Value Locked (TVL)

Coming at the third spot is Solana which has now surpassed $1 billion. The TVL on Solana (SOL) was highest last week at $1.33 billion, up from just under $150 million two and a half months back, as per Solana Project.

This rapid growth of the Solana ecosystem is thanks to its fast and scalable decentralized applications. This year's 2,281% uptrend in SOL prices to about $46.90 so far is evidence of the growing traction this public blockchain is seeing.

Solana caught the public eye after Sam Bankman-Fried’s crypto exchange FTX chose to build the decentralized derivatives platform Serum (SRM) last summer.

It has been defined as a blockchain that can “process 10,000 times as much as Ethereum” and is “1,000,000 times cheaper.” This is possible due to the adding of Proof-of-History to an underlying Proof-of-Stake consensus mechanism. Proof-of-History enables validators to compute the network state themselves, thus saving on cross-validator communication.

Fast transactions at relatively low cost are pushing the users from the second-largest network to Solana, just like it has been happening with BSC.

This has helped USDC grow on the blockchain with more than $500 million in circulation today, second only to Ethereum USDC, stated Circle on Tuesday. USDC was first integrated with Solana in late October.

Despite its mainnet launching just a year ago, “network fundamentals made it a natural choice for fast, secure, and scalable USDC. Solana is a public blockchain that delivers impressive scalability while maintaining a high degree of decentralization and security,” said the Circle team.

The biggest project on Solana currently is Raydium (RAY) which alone accounts for about $900 million of all the TVL on the Solana project, representing a whopping 89% share. Together with Serum DEX, which comes in second place with just over $400 million in TVL, they both account for nearly all the TVL. SRM 4.72% Serum / USD SRMUSD $ 11.28
$0.53 4.72% Volume 1.13 b Change $0.53 Open $11.28 Circulating 50 m Market Cap 564.16 m baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=SRM&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 1 h Raydium (RAY) Alone Accounts for Nearly 90% of Solana Ecosystem’s TVL 4 h Solana Hits its First $1 Billion Milestone in Total Value Locked (TVL) 1 w SOL Bucks the Trend and Hit a New ATH as Crypto Market Sees Another Sell-off RAY 9.16% Raydium / USD RAYUSD $ 14.54
$1.33 9.16% Volume 54.29 m Change $1.33 Open $14.54 Circulating 38.95 m Market Cap 566.33 m baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=RAY&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })(); 1 h Raydium (RAY) Alone Accounts for Nearly 90% of Solana Ecosystem’s TVL 4 h Solana Hits its First $1 Billion Milestone in Total Value Locked (TVL) 2 w Solana’s Data Aggregator Step Finance Raises $2 Million in Private Sale

Another Solana-based new project making the rounds on Crypto Twitter (CT) is Step Finance which recently launched its STEP token. The protocol amassed $100 million in liquidity in just two days. STEP -14.09% Step Finance / USD STEPUSD $ 4.30
-$0.61 -14.09% Volume 6.09 m Change -$0.61 Open $4.30 Circulating 4 m Market Cap 17.2 m baseUrl = "https://widgets.cryptocompare.com/"; var scripts = document.getElementsByTagName("script"); var embedder = scripts[scripts.length - 1]; var cccTheme = {"Chart": {"fillColor": "rgba(248,155,35,0.2)", "borderColor": "#F89B23"}}; (function () { var appName = encodeURIComponent(window.location.hostname); if (appName == "") { appName = "local"; } var s = document.createElement("script"); s.type = "text/javascript"; s.async = true; var theUrl = baseUrl + 'serve/v1/coin/chart?fsym=STEP&tsym=USD'; s.src = theUrl + (theUrl.indexOf("?") >= 0 ? "&" : "?") + "app=" + appName; embedder.parentNode.appendChild(s); })();

The data aggregator that provides analytical dashboards for yield farmers aims to be the go-to DeFi aggregator for all tokens launched in the Solana ecosystem.

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