Solana TVL soars by $600 million despite hacking incidents

Solana has been one of the best-performing smart contract chains in the last two months. The blockchain was up by 38% from $1.55 billion on July 1 to $2.15 billion on July 31, according to BeInCrypto research based on data from DeFiLlama.

After improving in TVL, Solana trails Polygon, Avalanche, Binance Smart Chain, TRON, and Ethereum. However, it holds the lion’s share in value locked over Cronos, Optimism, Arbitrum, and Fantom.