Solana News: DEX Volume Skyrockets To $19.6B As TVL Reclaims $9B

Solana news is making rounds again as it experiences increased activity with a high rate of growth in Decentralized Exchange (DEX) volume. It has also seen a positive recovery in Total Value Locked (TVL).

Solana News Spread Again as TVL Levels Spike Hard

According to the on-chain data of recent times, the volumes of Solana DEX have increased by 820.9%, to the sum of $19.6 billion. Such statistics show high capital turnover and user interest in applications based on Solana.

As per Artemis data, the DEX volume on Solana rose to 19.6 billion in an insane performance of 820.9% over the last several weeks.

This leap puts Solana at the forefront of Layer-1 based on on-chain DEXs. Its increment started mid-June and sped up towards the early July period. Thus, it has reached the current peak.

The rise in DEX volume indicates that users are heavily involved in trading various decentralized platforms, including Jupiter, Raydium, and Orca. This growth corresponds with an upsurge in liquidity offering and the inclusion of retail and institutional market makers.

Notably, the increase in DEX volume is not an isolated development since other measures of growth at network levels, like TVL and price recovery of tokens, have also increased.

TVL Surges to $9.1 Billion Amid Capital Inflows

Artemis data shows that the total value locked by Solana has rocketed to 9.1 billion, with a 29.2 %  gain. Such a recovery comes after a turbulent time between May and mid-June, when TVL dropped to under $7 billion. That was a significant low against its former all-time high of nearly $10 billion.

The current recovery indicates that more assets are currently being deposited on some native Solana lending, staking, and liquidity protocols.

Structurally, the growth of TVLs seems smooth and steady. The first steps are being made in the second half of June and later gaining pace in July. It shows that there are stable capital flows and not suddenly acquired ones that are concentrated on isolated events.

The DEX volume’s momentum puts Solana at the top of the chain’s activity regarding trading in Layer 1 networks.

The volume curve has a precipitous slope, and now just a single day of DEX volume exceeds the entire Q2. The growth suggests increased liquidity availability and active traders in platforms like Jupiter and Meteora.

The data also indicates that the active automated market makers (AMMs) and routing protocols have allowed efficient swaps in volume.

Technical Structure Aligns with On-Chain Growth

4-hour Solana price charts show that it has created an inverted type against the head-and-shoulders formation. In many cases, this would be considered a potential bullish reversal pattern.

The neckline is at the level of about $162. SOL touched this neckline and climbed higher above key trend support.

Volume delta also provided uniform striving power to buy at press time. Nonetheless, short-term sell-side volumes have also been there around the breakout point.

The Average Directional Index (ADX) stood at 34.72, indicating a healthy trend that helps retain the momentum of the breakout. The price at press time broke to the $162.64 level. It was in the consolidation process just above the neckline’s support level.

This combination of the technical advantage and the Solana news on the increasing on-chain fundamentals implies continued market activity. It is based on the maturing Solana DeFi ecosystem.