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In the past 24 hours, Solv Protocol has outperformed Solana in protocol fee revenue, securing $1.48 million, according to DefiLlama. This impressive growth has placed Solv Protocol at the 6th spot among the top decentralized finance (DeFi) platforms.
Solv Protocol Overtakes Solana and Uniswap
With $1.48 million in fees, Solv Protocol surpassed both Solana, which generated $1.24 million, and Uniswap, which earned $1.15 million in the same period. This achievement highlights the increasing traction that Solv Protocol is gaining within the decentralized finance space.
Solv Protocol, primarily known as a Bitcoin staking platform, boasts a total value locked (TVL) of $1.4 billion, making it the leader in the BTCFi ecosystem. Through its SolvBTC staking product, the platform aims to unlock over $1 trillion in potential Bitcoin assets, further solidifying its position.
Other High-Earning Crypto Projects
According to DefiLlama’s data, Tether maintained its dominance by leading the charts with $13 million in fees, followed by stablecoin issuer Circle, which generated $4 million. In third place was Lido, an Ethereum restaking platform, with $2 million.
With the upcoming launch of SOLV, the native token of Solv Protocol, in the second half of 2024, the platform is set to gain even more attention. Its rapid rise in the fee revenue rankings signals a growing presence in the ever-evolving DeFi landscape.
Stay tuned to Turkish NY Radio for further updates on the DeFi sector and emerging cryptocurrency trends.
