6 Solana protocols crossed $1b TVL 

For the first time since Solana launched, six $SOL-based platforms held over $1 billion in user deposits.

According to DefiLlama data, Jito (JTO), Kamino, Jupiter (JUP), Raydium (RAY), Marinade, and Sanctum all surpassed $1 billion or more on layer-1 blockchain network Solana ($SOL).

Oct. 1 marked the first time in $SOL’s four-year history that its top six protocols boasted nearly $9 billion in total value locked. Liquid staking provider Jito led other smart-contract projects, with over $2 billion in TVL.

Solana lender Kamino trailed in second with $1.58 billion in TVL, followed by decentralized exchanges Jupiter and Raydium, which held $1.26 billion and $1.24 billion in user deposits, respectively. Liquid stakers Marinade and Sanctum completed the Solana big six, with users parking $1.21 billion in Marinade and around $1 billion in Sanctum.

Bitget: $180 possible for Solana in October

Interest in Solana’s Jito, Kamino, Jupiter, Raydium, Marinade, and Sanctum accelerated alongside an appetite for $SOL. The native token has grown by over 547% in the past year, with one token costing almost $150 at press time, per CoinGecko.

Crypto community members applauded $SOL chain features like Actions and Blinks as retail adoption funnels. Others argue that fast transactions and memecoin speculation fuel most of $SOL’s on-chain activity.

In a note shared with crypto.news, Bitget Research chief analyst Ryan Lee agreed with the memecoin thesis and said $SOL could trade at $180 in October due to this hype. Lee added that support from Franklin Templeton and Citibank may also boost $SOL’s institutional appeal.

During market downturns, the $110 support level has been exceptionally strong, and during each rebound, $SOL has been one of the strongest-performing high-market-cap tokens. The Solana ecosystem’s meme sector has also consistently been one of the most robust during rebounds.

Ryan Lee, Bitget Research chief analyst

24-hour $SOL price chart – Oct. 1 | Source: crypto.news