{"id":508424,"date":"2022-11-10T05:07:25","date_gmt":"2022-11-10T02:07:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/solana-tvl-drops-32-4-as-ftx-turmoil-rocks-ecosystem\/"},"modified":"2022-11-10T05:07:25","modified_gmt":"2022-11-10T02:07:25","slug":"solana-tvl-drops-32-4-as-ftx-turmoil-rocks-ecosystem","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/solana-tvl-drops-32-4-as-ftx-turmoil-rocks-ecosystem\/","title":{"rendered":"# Solana TVL drops 32.4% as FTX turmoil rocks ecosystem"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a23a4517f7c6\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a23a4517f7c6\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/solana-tvl-drops-32-4-as-ftx-turmoil-rocks-ecosystem\/#%E2%80%9D_Solana_TVL_drops_324_as_FTX_turmoil_rocks_ecosystem_%E2%80%9C\" >&#8221; Solana TVL drops 32.4% as FTX turmoil rocks ecosystem &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Solana_TVL_drops_324_as_FTX_turmoil_rocks_ecosystem_%E2%80%9C\"><\/span>&#8221; Solana TVL drops 32.4% as FTX turmoil rocks ecosystem &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-4b69a2fe>The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> stemming from the collapse of FTX has sent waves through the crypto ecosystem.\u00a0<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/defillama.com\/chain\/Solana\">According<\/a> to DefiLlama, at the time of writing, Solana\u2019s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far cry from its all-time-high (ATH) of $10.17 billion on Nov. 9, 2021. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/e2bb9853-9d49-4b58-9937-13a77e918e01.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Total value locked within the Solana ecosystem Source: DefiLlama<\/em><\/figcaption><\/figure>\n<p>TVL measures the total value of all assets locked into DeFi protocols. As TVL increases that means more coins are deposited within the DeFi protocols, and can indicate bullish sentiment, while a falling TVL shows that investors are pulling their funds out of the ecosystem for one reason or another.<\/p>\n<p>The fall in TVL went as far as a 51.7% decline over 24 hours, however, but slightly corrected leading up to the writing of this article.<\/p>\n<p>The Solana-based liquid staking protocol Marinade Finance has seen the biggest loss in TVL on the chain, having fallen 35.1% to $115.79 million within the last 24 hours.<\/p>\n<p>Other major protocols on Solana have seen similar decreases over the last 24 hours, with automated market maker Raydium down 34.25%, liquid staking protocol Lido down 43.13% and lending protocol Solend down 63.07%.<\/p>\n<p>Other leading blockchains have also seen decreases in TVL over the same time period, with Ethereum down 10.59%, Binance smart chain (BSC) down 9.68%, and Tron down 8.84%.<\/p>\n<p><iframe loading=\"lazy\" title=\"FTT, Bitcoin crash EXPLAINED: Binance acquires FTX?\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/7-FTQ-fqRSQ?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>Sam Bankman-Fried (SBF), the founder of FTX and crypto hedge fund Alameda Research, had been an early investor in Solana though Alameda Research and cryptocurrencies exposed to SBF\u2019s companies have been the hardest hit by the fallout.<\/p>\n<p>Solana\u2019s token (SOL), has also dropped heavily compared to its competitors, with the price falling 40.53% to $13.38 over the last 24 hours.<\/p>\n<p>The token had briefly risen after news that Binance might end up acquiring FTX, but dropped after Binance backed out of the deal citing allegations of consumer funds being mishandled and an investigation from regulators. <\/p>\n<p><strong>Related:\u00a0<\/strong><strong><em>Solana\u2019s co-founder addresses the blockchain\u2019s reliability at Breakpoint<\/em><\/strong><\/p>\n<p>Despite the recent challenges facing SOL, co-founder of Solana Labs Anatoly Yakovenko\u00a0has reiterated his bullish stance on the network despite recent losses.\u00a0<\/p>\n<p>He pointed to the quality of builders and recent network-level improvements as big positives in a Nov. 9 tweet.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ I said this on stage at Breakpoint just a few days ago \u2013 the builders on Solana are second to none, and the projects they&#8217;re building can often only be built on Solana.<\/p>\n<p>\u2014 toly  (@aeyakovenko) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/aeyakovenko\/status\/1590348163722145793?ref_src=twsrc%5Etfw\">November 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Throughout Solana\u2019s annual conference, a range of announcements were made including a partnership with Google Cloud, the launch of the Solana <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">App<\/a> Store, and an upcoming smartphone.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/solana-tvl-drops-32-4-as-ftx-turmoil-rocks-ecosystem\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Solana TVL drops 32.4% as FTX turmoil rocks ecosystem &#8220; The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem.\u00a0 According to DefiLlama, at the time of writing, Solana\u2019s TVL has fallen&#8230;<\/p>\n","protected":false},"author":1,"featured_media":508425,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvZWNhNmE2YmEtNjBiZC00YjkxLWI1Y2UtMjg4NDk5MmU3YjAzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,75014,74868,74891,135234,89897,92498,74892,117,26293,74590],"class_list":["post-508424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-binance","tag-defi","tag-ethereum","tag-ftx","tag-sam-bankman-fried","tag-solana","tag-tokens","tag-business","tag-google","tag-smartphone"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508424","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=508424"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/508424\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/508425"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=508424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=508424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=508424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}