According to The Defiant, Solana’s total value locked (TVL) has grown to $35 billion in 2025, up from $3 billion in December 2023, per TokenTerminal. The report also noted that Solana’s fully diluted valuation (FDV) rose to $100 billion, with SOL trading at 2.95 times the ecosystem’s TVL. Stablecoins account for 43% of the TVL, while liquid staking protocols, lending platforms, and DEXs hold $7.1 billion, $4.8 billion, and $4.8 billion respectively.
Solana Ecosystem TVL Surpasses $35 Billion in 2025
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