Solana’s Defi: TVL rises to $ 17.5 billion with new protocol leaders star-news.press/wp

• Solana’s Defi TVL amounted to $ 17.5 billion, led by new protocols such as JTO, KMNO and JuPiter.
• Retail users and farmers (not institutions) leads to the original Defi growth in Solana.

The Solana (Sol) ecological system has reached a major landmark, crossing $ 17.5 billion in the total closed value. But unlike previous sessions, they are not the old names that lead the shipment.

New protocols such as JTO, KMNO and Jupiter (JuP) are now on top, indicating a shift in how users and developers interact with the network.

Solana: A moment of $ 17.5 billion

Solana Defi’s ecosystem arrived Fresh height, With TVL climbing to $ 17.5 billion from July 7. This represents the strongest Defi network since late 2011 Bull Run.

But the real story lies in who leads this growth. Old platforms such as Malinade and Orca are overcome by a new category of protocols.

Source: x

At the top is JTO, a Stokeing Protocol holds $ 2.72 billion (17.94 % of TVL), followed by KMNO with $ 2.43 billion in lending, and Jupiter with $ 2.39 billion in DeX liquidity.

Together, these three make up more than 43 % of closed capital in Solana; A major transformation in the user’s preferences towards irritable tools and original trading tools.

What has changed?

Last month, Solana’s growth was driven by protocols specifically designed for her high -performance design.

Kamino recently Firing V2 was persecuted with normative cellar and credit markets, which enhances the total offer to $ 3.7 billion (+4.3 %) and active debts to $ 1.5 billion (+3.5 %) in June.

Its automatic basement now has approximately $ 50 million in deposits, providing returns up to 8.6 %.

Collect this with Solana Friend-Fast Times, sub-concentration fees, specially designed incentive programs (such as XBTC on Kamino), and the chain keeps the capital on its own terms.

Who finances the mutation?

It seems that the height of the TVL Solana from Solana is feed less than the institutional funds and more by opportunistic farmers and the rotation of the community -led capital.

Protocols like JTO and Kamino offer competitive revenues and lending, and attract active users on the chain instead of negative ETF flows.

High wallet activity and smaller deposit sizes also indicate a strong retail sharing. While institutions remain more focused on the organized layers (ETH), Solana flourishes.

This is through fast -moving liquidity, driven by incentives; Users who know how to chase the return and improvement via the original platforms.