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.