JTO Tops Solana DeFi Protocols with $2.04B in Total Value Locked

Solana, a leading blockchain platform, keeps on making significant advancements in the DeFi sector. The total value locked in the DeFi ecosystem of Solana is reportedly standing at nearly $5.4 billion, with top protocols in terms of TVL including JTO, KMNO, MNDE, JUP, RAY, CLOUD, DRIFT, BLZE, and so on.

JTO Leads Solana-based Protocols in Line with Total Value Locked

TVL operates as a crucial metric that denotes the cumulative worth of assets in the Solana-based decentralized finance protocols. In this respect, TVL is a primary indicator of the growth and adoption of the platform. Based on the data regarding total value locked, Jito Labs (JTO) is ruling the market. Its total value locked is nearly $2.04B.  In addition to this, Kamino (KMNO) secures the 2^nd position with a TVL of up to $1.6B.

The 3^rd spot is obtained by Marinade (MNDE). The protocol has reportedly seen $1.21 billion in its total value locked. Following that, Jupiter (JUP) occupies the 4^th place in the list with its TVL reaching nearly $1.12 billion. Raydium (RAY) comes after it in the 5^th position. The total value locked of the protocol is nearly $1.02 billion. The 6^th place in the list is seized by Sanctum (CLOUD).

Meteora Bottoms the List with $299M in Its TVL

The TVL of CLOUD has reportedly touched $850 million. Subsequently, Drift Protocol gets 7^th place as its total value locked equals $431M in terms of value. While moving on, the list places Marginfi in the 8^th rank. the Solana protocol has reportedly reached $421 million. BlazeStake receives the 9^th spot among the top Solana-based protocols. Its TVL is around $300 million at the moment. At the end, the list includes Meteora as the 10^th and last entry. It stands at $299 million in terms of TVL.