Solana TVL creates a new high in SOL valuation, DEX activity is vibrant, but SOL price remains under pressure

ChainCatcher news, according to Cointelegraph, despite the SOL price dropping by 9% from March 28 to April 4, the on-chain metrics of Solana continue to strengthen. On April 2, the total value locked (TVL) in Solana's DApps reached 53.8 million SOL, setting a new high since June 2022, amounting to 6.5 billion USD, leading BNB Chain by about 780 million USD. Major DApps include Jito, Jupiter, and Kamino. During the same period, DEX trading volume showed strength, with Solana capturing a 24% market share, surpassing BNB Chain (12%) and Base (10%). However, the unlocking of 1.79 million SOL on April 4 released significant selling pressure, coupled with the waning popularity of memecoins, leading to uncertainty in short-term price rebounds. Despite facing MEV controversies, Solana continues to gain support from developers and users in terms of underlying scalability and Web3 experience, solidifying its second position among decentralized platforms.