Solana TVL Soars by 600 Million Despite Hacking Incidents

Solana has been one of the best-performing smart contract chains in the last two months. The blockchain was up by 38% from $1.55 billion on July 1 to $2.15 billion on July 31, according to Be[In]Crypto research based on data from DeFiLlama. Solana TVL was up in July due to a spike in the value locked in decentralized applications (dApps) in its ecosystem. Liquid staking platform Marinade Finance (which holds the most TVL on Solana), increased by 39% in July from $245.21 million on the first day to $340.99 million on the last day of the month.