📊 #Solana DeFi Rockets to $8B — Can This Pace Be Sustained Into Q3?

Solana (SOL) ecosystem growth in Q2 was notably strong in Decentralized Finance (DeFi) total value locked.

Solana DeFi TVL Rises 30%

Messari reports that DeFi value on the Solana ecosystem rose 30.4% quarter-over-quarter to $8.6 billion. This rise became Solana DeFi TVL's second-largest network.

However, the quarter had its obstacles. Due to diminishing memecoin interest, average daily spot DEX volume fell 45.4% to $2.5 billion.


Solana's stablecoin market fell 17.4% to $10.3 billion, ranking third among networks.

The January 17 introduction of the official TRUMP token infused liquidity into the ecosystem and established high-liquidity trading pairings using Circle's USDC stablecoin, fueling earlier growth.

Despite the drop, the stablecoin market's steady rise suggests that most of the new cash has stayed in Solana, the company found.

By Q2 2025, USDC's market value was $7.2 billion, down 25.2% and with 69.5% market share. The second-largest stablecoin on Solana, Tether's USDT, had $2.3 billion.

Solana's liquid staking rate jumped 16.8% to 12.2% from the previous quarter. With 64.8% of SOL's circulating supply staked, liquid staking improves the DeFi ecosystem, giving SOL holders yield-bearing chances.

Solana's circulating market value rose 29.8% to $82.8 billion, ranking it sixth after Bitcoin (BTC), Ethereum (ETH), Tether, XRP, and Binance Coin.

Average daily trading volume in the non-fungible token (NFT) market fell 46.4% to $979,500 in Q2. Solana's NFTs dominate creator royalties despite this reduction.

Average daily fee payers fell 1.4% to 3.9 million, while non-vote transactions grew 4% to 99.1 million. The average transaction charge dropped 59.6% to $0.01.

Total staked value reached an all-time high of $102 billion on January 18, when SOL peaked at $295. The total staked SOL rose 25.2% to $60 billion in Q2.

Messari's study suggests that although the Solana ecosystem is in "adjustment," its core parameters and continuous growth may indicate a bright future.


$SOL