Solana’s DeFi milestone: TVL soars to 17.5 billion USD with new protocol leaders

Solana’s DeFi ecosystem achieved a new high of 17.5 billion USD by July 7, 2025. New protocols JTO, KMNO, and Jupiter are at the forefront, with JTO leading at 2.72 billion USD. The surge is fueled by retail users and yield farmers seeking returns rather than institutional investors.

The notable shift towards JTO, KMNO, and Jupiter indicates a change in user interaction with Solana. As institutional interest remains low, the retail market drives liquidity and keeps up with Solana’s fast transaction times and tailored incentives, ensuring robust capital retention.

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