Solana TVL drops 32.4% as FTX turmoil rocks ecosystem
Cryptocurrencies believed to be exposed to Sam Bankman-Fried, FTX and Alameda Research appear to have been most affected.
New
Total Locked Value (TVL) on the Solana Channel has fallen 32.4% in the past 24 hours as news of FTX's collapse sent waves through the crypto ecosystem.
According to DefiLlama, at the time of writing, Solana's TVL has fallen to $423.68 million, down 32.4% in the past 24 hours, a far cry from its all-time high ( ATH) of $10.17 billion on November 9. , 2021.
Total locked value in the Solana ecosystem Source: DefiLlamaTVL measures the total value of all locked assets in DeFi protocols. As TVL rises, it means more coins are being deposited in DeFi protocols and can indicate bullish sentiment, while a falling TVL shows that investors are withdrawing their funds from the ecosystem for one reason or another. .
The drop in TVL went as far as a 51.7% drop over 24 hours, but corrected slightly before this article was written.
Solana-based liquid staking protocol Marinade Finance saw the chain's biggest TVL loss, dropping 35.1% to $115.79 million in the past 24 hours.
Other major protocols on Solana saw similar declines over the past 24 hours, with automated market maker Raydium down 34.25%, liquid staking protocol Lido down 43.13% and Solend loan protocol down 63.07%.
Other top blockchains also saw declines in TVL over the same period, with Ethereum down 10.59%, smart chain Binance (BSC) down 9.68% and Tron down 8.84%.
[embedded content]Sam Bankman-Fried (SBF), the founder of FTX and crypto hedge fund Alameda Research, had been an early investor in Solana, although Alameda Research and the cryptocurrencies exposed to SBF companies had were the first
Cryptocurrencies believed to be exposed to Sam Bankman-Fried, FTX and Alameda Research appear to have been most affected.
New
Total Locked Value (TVL) on the Solana Channel has fallen 32.4% in the past 24 hours as news of FTX's collapse sent waves through the crypto ecosystem.
According to DefiLlama, at the time of writing, Solana's TVL has fallen to $423.68 million, down 32.4% in the past 24 hours, a far cry from its all-time high ( ATH) of $10.17 billion on November 9. , 2021.
Total locked value in the Solana ecosystem Source: DefiLlamaTVL measures the total value of all locked assets in DeFi protocols. As TVL rises, it means more coins are being deposited in DeFi protocols and can indicate bullish sentiment, while a falling TVL shows that investors are withdrawing their funds from the ecosystem for one reason or another. .
The drop in TVL went as far as a 51.7% drop over 24 hours, but corrected slightly before this article was written.
Solana-based liquid staking protocol Marinade Finance saw the chain's biggest TVL loss, dropping 35.1% to $115.79 million in the past 24 hours.
Other major protocols on Solana saw similar declines over the past 24 hours, with automated market maker Raydium down 34.25%, liquid staking protocol Lido down 43.13% and Solend loan protocol down 63.07%.
Other top blockchains also saw declines in TVL over the same period, with Ethereum down 10.59%, smart chain Binance (BSC) down 9.68% and Tron down 8.84%.
[embedded content]Sam Bankman-Fried (SBF), the founder of FTX and crypto hedge fund Alameda Research, had been an early investor in Solana, although Alameda Research and the cryptocurrencies exposed to SBF companies had were the first
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