Solana’s [SOL] DeFi activity inches towards pre-FTX levels thanks to…

Solana's [SOL] DeFi activity inches towards pre-FTX levels, thanks to...

, cumulative decentralized exchange volume on Solana over the last four months eclipsed pre-FTX levels, reflecting renewed demand for DeFi activities on the chain.

Consider this- Trades worth $5.57 billion were settled on the chain since the beginning of 2023, as compared to $5.54 billion in the four months before the collapse. Data from DeFiLlama pointed towards a similar trend. After tumbling in December, the trajectory of the trading volume in the last four months resembled the pre-FTX levels.migration to the Solana chain provided a fillip to liquidity on the network.

At the time of writing, Solana held assets worth more than $572 million, representing a change of 18% over the last 24 hours. This was also the highest total value locked recorded on the chain in over five months.Some of the other key performance indicators of Solana have also exhibited promising recoveries. As shown by Token Terminal, the weekly transaction fees generated on the network inched toward the pre-FTX levels.

However, the same was not seen for users participating on the network as the weekly average of daily active users still hovered around 100k, a far cry from the average of 200k users before the collapse.

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