DeFi on Solana is being wiped out, so to speak.
At the start of the month, TVL on the chain was close to $1bn. Now it has crashed to $280m and is out of top 10.
Top chains by TVL
The crash has been nothing short of spectacular
At the peak of the bull run, Solana boasted close to $10 BN in TVL. Now it down to 2.8% of that. Absolute carnage.
Solana has been plagued with one disaster after another – first the numerous chain halts, then the revelation that one team was responsible for most of TVL by creating double entries, now the final nail in the coffin has been the implosion of Sam, brining with it the downfall of the chain he shilled so much. Many exchanges are cutting down on exposure to Solana, Even stablecoins are migrating liquidity to other chains
Do you think this chain can pull itself together after all the fiascos?