PANews reported on April 6 that according to Cointelegraph, despite SOL's price dropping by 9% between March 28 and April 4, key metrics on the Solana chain continued to strengthen. On April 2, the total value locked (TVL) of decentralized applications (DApps) on the Solana network reached 53.8 million SOL, a new high since June 2022, approximately $6.5 billion in dollar terms, leading BNB Chain by about $780 million. Core DApps such as Jito, Jupiter, and Kamino were the main drivers of growth.
During the same period, Solana's decentralized exchange (DEX) trading volume performed strongly, accounting for about 24% of the market share, surpassing BNB Chain (12%) and Base (10%). However, the unlocking of approximately 1.79 million SOL on April 4 created significant selling pressure, and with the cooling of meme coin hype, short-term price rebounds still face uncertainty.
Despite ongoing controversies surrounding MEV, Solana continues to gain recognition from developers and users for its underlying scalability and Web3 user experience, solidifying its position as the second-largest decentralized platform.
