Solana TVL hits a new high in SOL pricing, DEX activity is resilient, but SOL prices are still under pressure

CoinRank News: Despite a 9% drop in SOL prices from March 28 to April 4, Solana on-chain indicators continue to strengthen. On April 2, the total locked volume (TVL) of Solana network DApps reached 53.8 million SOL, a new high since June 2022, reaching $6.5 billion in US dollars, leading BNB Chain by about $780 million. The main DApps include Jito, Jupiter, and Kamino. DEX trading volume showed strong growth during the same period, with Solana occupying 24% of the market share, surpassing BNB Chain (12%) and Base (10%). However, the unlocking of 1.79 million SOL on April 4 released obvious selling pressure, and with the fading popularity of memecoin, there is still uncertainty about the short-term rebound in prices. Despite the MEV controversy, Solana still has the support of developers and users in terms of underlying scalability and Web3 experience, consolidating its second place in decentralized platforms. (Cointelegraph)