Solana rallies to $103 billion market cap as DeFi confidence renews
Solana’s market cap has climbed back above the $100 billion threshold, driven by a broader crypto market recovery that is lifting the value of major altcoins.
As of July 21, data from CryptoSlate shows Solana’s market cap surged by over 7% in the past 24 hours, reaching approximately $104 billion, its highest point since January. This follows a notable price increase that pushed SOL to a six-month high of $194.
The recent price surge has also invigorated Solana’s DeFi ecosystem. According to DeFiLlama data, the total value locked (TVL) across Solana-based protocols now exceeds $10 billion. This is the highest level recorded since January and reflects renewed interest in the network’s DeFi offerings.
The growth is also visible in decentralized exchange (DEX) activity. Solana-based DEX platforms processed $23 billion in trading volume over the past week, a nearly 22% increase compared to the previous week.
This uptick in user activity suggests improving liquidity and growing confidence in the network’s scalability and performance.
