Solana News Today: Solana DeFi TVL Surges 30.4% Q2 as RWA Gains 124.8%

Solana’s DeFi total value locked (TVL) surged 30.4% quarter-over-quarter in Q2 2025, reaching $8.6 billion by June 30, according to the Messari State of Solana Q2 report[1]. This growth propelled Solana to the position of the second-largest DeFi network. Kamino led the TVL landscape with $2.1 billion, representing 25.3% of the market share and 33.9% quarterly growth. Raydium followed closely with $1.8 billion locked, showing a 53.5% increase during the same period. Jupiter, Drift, and Meteora also secured significant positions with $1.6 billion, $699 million, and $627 million, respectively. Decentralized exchanges on the network processed an average daily trading volume of $2.5 billion[1].

The broader market performance of Solana also reflected robust growth, with its market capitalization rising 29.8% quarter-over-quarter to $82.8 billion[1]. This performance positioned Solana as the sixth-largest cryptocurrency by market cap, trailing behind Bitcoin, Ethereum, Tether, XRP, and Binance Coin. At press time, SOL was trading at $188.79 with a market cap of $101.93 billion and a 24-hour trading volume of $4.2 billion[1]. However, stablecoin activity on the network declined, with Solana’s stablecoin market capitalization falling by 17.4% to $10.3 billion during the quarter. Circle’s USDC, the dominant stablecoin on the network, dropped 25.2% to $7.2 billion[1].

Real-world asset (RWA) tokenization on Solana saw significant momentum, with $390.6 million in tokenized assets recorded on the blockchain as of June 30, reflecting a 124.8% year-to-date increase[1]. Ondo Finance led this growth with its USDY token, which reached a market cap of $175.3 million and attracted nearly 7,000 holders. Ondo’s OUSG token held $79.6 million in value, while BlackRock’s BUIDL money market fund, launched on Solana in March 2025, grew to $25.2 million[1]. This growing RWA adoption highlights the network’s increasing role in bridging traditional finance and blockchain infrastructure.

Solana also initiated governance discussions around the SIMD 326 “Alpenglow” proposal, which aims to reduce block finality to 150 milliseconds—nearly 100 times faster than the current system. The upgrade also seeks to replace the TowerBFT protocol, which is expected to lower entry barriers for smaller validators and improve the efficiency of the ledger[1].

Source: [1] Solana TVL Jumps 30.4% in Q2 as RWA Adoption Climbs 124.8% (https://coinmarketcap.com/community/articles/68a0eeef68972105f3d55ad3/)