When Solana’s price hit new lows near $54, the total value locked (TVL) for the token also declined to a historical low. According to data from Defi Llama, the token’s TVL has been on a steady decline since November 2021. In that month, it reached an all-time high of $15 billion but then lost momentum and went down to $4.34 billion.
Solana’s TVL continued to plummet in the third week of May due to bearish trends within this market that have seen declining interest from investors.
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With its price struggling to find footing, it’s been one of the best-performing crypto projects in recent months. However, the research says that Solana has lost 60% in total value locked since January first day of 2022, trapped inside a bear market pattern.
To be exact, on January 1st, Solana’s TVL was approximately $11.22 billion, but by May 16, it had fallen to around $4.38 billion.
Solana is a blockchain t ..
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