Solana TVL drops 32.4% as FTX turmoil rocks ecosystem
The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. According to DefiLlama, at the time of writing, Solana’s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far cry from its all-time-high (ATH),
TVL measures the total value of all assets locked into decentralized finance (DeFi) protocols. As TVL increases, that means more coins are deposited within the DeFi protocols and can indicate bullish sentiment, while a falling TVL shows that investors are pulling their funds out of the ecosystem for one reason or another. The Solana-based liquid staking protocol Marinade Finance has seen the biggest loss in TVL on the chain, having fallen 35.1% to $115.79 million within the last 24 hours.
Source
@Solana_Updates
