Solana TVL drops 32.4% as FTX turbulence shakes the ecosystem

Since the news of FTX’s collapse affected the cryptocurrency ecosystem, the total value blocked (TVL) on the Solana network has dropped by 32.4% in the last 24 hours.

According to DefiLlama, Solana’s TVL has dropped to USD 423.68 million, 32.4% lower in the last 24 hours, and is still a long way from its all-time high (ATH) of $ 10.17 billion on November 9, 2021.

The TVL measures the total value of all assets blocked in decentralized financial protocols ( DeFi ). When the TVL rises, it indicates that there are more coins deposited within the DeFi protocols, indicating an upward feeling, whereas a fall in the TVL indicates that investors are withdrawing their funds from the ecosystem for various reasons.