Solana is aiming to solidify its position as a leading pioneer of decentralized finance (DeFi) despite facing regulatory hurdles in the second quarter of the year. Major platforms like Robinhood, Revolut, and Bakkt delisted Solana (SOL), contributing to its 9.2% decline in value compared to the broader market’s 1.3% increase. However, Solana has managed to outperform its competitors in the past week, witnessing a more than 10% surge in price and nearing a $9 billion market cap. The Solana ecosystem is focused on expanding DeFi while also venturing into other sectors. Solend, a key DeFi protocol on the Solana network, experienced a 59% increase in transaction volume and is now the largest DeFi protocol on Solana.
AI Sentiment: Neutral