Solana Blockchain Experiences Significant Decline in Total Value Locked

According to ChainCatcher, the Solana blockchain has seen a substantial decrease in its total value locked (TVL), dropping from a peak of $13.22 billion on September 14 to $8.67 billion on Wednesday, marking its lowest point in six months. Over the past 30 days, the TVL has consistently remained below $10 billion. Data from DefiLlama indicates that the decline is primarily driven by Jito's liquid staking, which has decreased by 53% since mid-September. Other major decentralized applications, including Jupiter DEX, Raydium, and Sanctum Protocol, have also experienced declines of 30%, 46%, and 46%, respectively.