The price of Solana (SOL) has experienced a drop since reaching a high of $24.79 on October 2. On October 12, the price fell to a low of $21.79, erasing a significant portion of its gains from September. Despite this decrease in price, there has been a surge of interest in the Solana network, with the Total Value Locked (TVL) reaching a new yearly high of $337.49 million. Julian Deschler, the Co-founder of Elusiv, attributes this increase in TVL to several factors, including the Solana snap in Metamask, the introduction of Eclipse (an Ethereum L2 solution running on Solana’s Virtual Machine), a successful hackathon in India, and Maker’s plans to create a Solana-based chain. Deschler also highlighted Solana’s technical attributes, such as its high speed and low transaction costs, which make it an attractive choice for developers.
Hashtags: #Solana #SOL #cryptocurrency #blockchain #DeFi #TVL #crypto #Eclipse
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