Solana's DeFi TVL Hits $13B, Galaxy Digital Boosts Holdings by 932,000 SOL

Solana's latest price was $240.84, down 0.553% in the last 24 hours. The decentralized finance (DeFi) total value locked (TVL) on Solana has reached an all-time high of over $13 billion, driven by a surge in user demand and network inflows. This increase in TVL is a clear indicator of the growing capital inflows into Solana's DeFi protocols, which can only be sustained with a rise in user demand and on-chain activity.

Data from Artemis confirms this trend, showing that Solana has experienced an uptick in daily active addresses and transactions. In the past week, the number of daily active addresses involved in at least one SOL transaction has increased by 37%. This increase in users has directly translated to higher activity, as the daily transaction count on the network has climbed 17% over the same period.

When a network’s user demand increases this way, it signals stronger confidence in the ecosystem and deeper utility for its native asset.

Galaxy Digital has increased its holdings by 932,000 SOL in the past 6 hours.

There are currently 17 entities that have established SOL Treasury Reserves, holding a total of 11.739 million coins. Of these, approximately 585,000 SOL coins are being staked, with an average staking yield of 6.86%. The entities with the highest holdings are Sharps Technology (STSS), DeFi Development Corp (DFDV), Upexi (UPXI), and Forward Industries (FORD).

Solana ecosystem development continues accelerating, driven by expanding decentralized application adoption that now commands over 81% of DEX transaction volume. This dominance in decentralized exchange activity underscores robust network usage and developer traction. Institutional interest remains a significant factor, as evidenced by Galaxy Digital acquiring substantial Solana holdings exceeding $1.2 billion in value across multiple major transactions completed within the past week.

Franklin Templeton further validated the network's potential through its strategic integration of Solana into a major fund during Q1 2025, signaling growing acceptance within traditional finance. On-chain metrics reveal sustained accumulation patterns among large holders, with wallets containing over 100,000 SOL consistently increasing their holdings since late August. Concurrently, significant withdrawals from exchanges suggest reduced immediate selling pressure, while the Smart Money Index tracking sophisticated investor behavior has risen steadily this month.

Market position also strengthened recently as Solana surpassed BNB to reclaim its status among the top five cryptocurrencies by market capitalization. This shift reflects renewed confidence and perceived value within the broader crypto market landscape. The network's technical infrastructure and expanding utility position it favorably for ongoing ecosystem development and institutional adoption.

Technical analysis indicates Solana trading within an ascending channel formation, with key support and resistance levels monitored by market participants. These dynamics, combined with consistent large-holder accumulation and significant institutional acquisitions observed throughout the week ending September 14th, contribute to a technically constructive outlook for the network's position within the digital asset ecosystem.