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Solana (SOL) registered a caller all-time precocious of $12.11 cardinal successful full worth locked (TVL) connected Sept. 9, surpassing its erstwhile grounds of astir $12 cardinal acceptable connected Jan. 23.
According to DefiLlama data, the milestone represents a 15% summation implicit the past 30 days, driven by broad-based maturation crossed the ecosystem’s largest DeFi protocols.
Seven of the 8 protocols with implicit $1 cardinal successful TVL posted double-digit monthly gains, with lone Kamino signaling humble maturation of 3%.
Jupiter leads Solana’s DeFi scenery with $3.3 cardinal successful TVL, followed by Jito astatine $3.2 cardinal and Kamino astatine $3.1 billion. Sanctum holds $2.894 billion, portion the liquid staking SOL provided by Binance commands $2.5 billion.
The remaining protocols supra the $1 cardinal threshold see Raydium astatine $2.4 billion, Marinade astatine $2.2 billion, and Drift astatine $1.3 billion. All demonstrated beardown momentum with monthly gains ranging from 12.2% to 33.6%.
The TVL betterment positions Solana among the apical blockchain ecosystems by locked value, particularly among Ethereum layer-2 (L2) blockchains. Base is the largest Ethereum L2, with $4.8 cardinal successful TVL, which is little than fractional of Solana’s size.
Institutional involvement apt driver
Corporate treasury adoption and regulatory clarity are driving renewed organization involvement successful Solana.
Forward Industries officially announced its concern of $1.6 cardinal successful SOL arsenic portion of a strategical treasury diversification. It secured backstage placement commitments successful currency and stablecoins from Multicoin Capital, Galaxy Digital, and Jump Crypto.
Additionally, SOL Strategies began trading connected Nasdaq connected Sept. 9, aft securing approval connected Sept. 5. The concern steadfast aims to absorption exclusively connected Solana ecosystem opportunities and supply organization investors with nonstop vulnerability to the blockchain’s growth.
Furthermore, ample institutions purpose to motorboat staking-enabled crypto exchange-traded funds (ETFs) successful the US tied to Solana. In May 2025, Canary filed for a Solana ETF powered by liquid staking successful concern with Marinade.
Since then, the US Securities and Exchange Commission (SEC) issued a statement connected Aug. 5 concluding that liquid staking tokens are not securities by default but receipts. The determination is the last regulatory hurdle earlier the support of staking-enabled ETFs.
On Aug. 22, VanEck and Jito filed for an ETF backed by JitoSOL. The merchandise is the archetypal successful the US to beryllium wholly backed by a liquid staking token.
The station Solana TVL hits caller all-time precocious of $12.1B amid rising organization interest appeared archetypal connected CryptoSlate.
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