Solana Breaks a New Record and Collaborates with Filecoin

By KMatt | Blogging Crypto | 22 Feb 2024

Solana continues to break records, this time in the DeFi sector: the TVL (Total Value Locked) has in fact exceeded 2 billion dollars, a milestone last reached in June 2022.

According to data from DeFi Llama, Solana's TVL stands precisely at $2.013 billion, almost double compared to the end of 2023. Although 2021's ATH (All Time High) is still far away, the recent growth is a sign encouraging for the Solana ecosystem.

Among the reasons for this growth there are also protocols such as Marinade and Jito which are attracting more and more investors thanks to their new staking and liquid staking services. These services allow users to stake their SOL tokens and earn rewards, while maintaining the liquidity of their assets.

Solana is a loud candidate as a serious competitor to Ethereum in the DeFi field. Its scalability, low fees and the presence of services such as DEX loans, generally offered on Ethereum, make it an extremely attractive platform for developers and users.

In fact, it is no coincidence that large companies such as VISA and Spotify have chosen Solana for their forays into the blockchain world.
VISA announced its intention to use Solana to settle cryptocurrency transactions, while Spotify is exploring the use of blockchain to improve the music streaming experience.

In addition to the factors mentioned, it is also worth talking about the integration of Solana with Filecoin announced in the last few hours.
Filecoin is a decentralized storage protocol that allows users to store their data securely and reliably.

The integration with Filecoin will allow Solana to store block history in a decentralized manner, offer developers new tools for building decentralized applications, and attract new users to the Solana ecosystem.
The integration will proceed in phases, one expected by the end of 2024, the other probably during 2025.



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