Solana’s TVL And Daily DEX Volume Surge As Pump.fun Sells $6.68M In SOL

Solana is making headlines once again, as Pump.fun’s fee account sold an additional 40,000 SOL, valued at $6.68 million, just five hours ago.

This recent sale adds to the impressive track record of Pump.fun, which has generated total revenue of 969,945 SOL (worth $162 million) and sold 503,343 SOL ($78.7 million) at an average price of $156.4 to date.

The https://t.co/DrKlYnPhBq Fee Account sold 40,000 $SOL($6.68M) again 5 hours ago!https://t.co/DrKlYnPhBq has generated total revenue of 969,945 $SOL($162M) and has sold 503,343 $SOL($78.7M) at an average price of $156.4 so far.https://t.co/8Jozj9QqvE pic.twitter.com/2a9Zz441CJ

— Lookonchain (@lookonchain) October 22, 2024

In the broader Solana ecosystem, Total Value Locked (TVL) has surged to $6.46 billion, reaching its highest level in nearly two years—marking the first time since January 2022 that Solana has achieved this milestone.

🚨 JUST IN: #Solana‘s TVL has increased to $6.46 billion, reaching its highest point in 2 years, marking the first time since January 2022. pic.twitter.com/jbn6KBiMBk

— CoinEcho (@mycoinecho) October 22, 2024

On top of this, Solana’s decentralized exchange (DEX) volume has exceeded $2 billion for the third consecutive day, surpassing Ethereum and all other blockchain networks in daily trading volume.

🚨 JUST IN: For the third consecutive day, #Solana has exceeded $2 billion in daily #DEX volume, surpassing #Ethereum and all other blockchain networks. pic.twitter.com/wUz6VAD1Hc

— CoinEcho (@mycoinecho) October 22, 2024

Rapid Increase For Solana’s Liquid Staking Tokens 

Solana’s Liquid Staking Tokens (LSTs) are also experiencing rapid growth, with the market cap nearing a record $4.95 billion. Leading the charge are jitoSOL and mSOL, both of which are driving significant interest in the liquid staking market.

Solana Liquid Staking Tokens (LSTs) are soaring, with the market cap approaching a record-breaking $4.95 billion.

Leading the charge are jitoSOL and mSOL. pic.twitter.com/GpvdLdL66n

— Kyledoops (@kyledoops) October 21, 2024

Technically, Solana’s price chart is forming a bullish “cup-and-handle” pattern, a classic indicator of a potential rally. If this pattern plays out, Solana could be poised for a massive 2,000% surge, with a potential price target of $4,500 on the horizon.

As Solana continues to dominate both TVL and DEX volume metrics, the blockchain’s ecosystem is seeing renewed interest and excitement from investors and developers alike. With Liquid Staking Tokens gaining traction and Solana’s price chart pointing to a potential breakout, the network is well-positioned for further growth in the coming months.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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