Solana’s DeFi Surge: Jito, Kamino, and Cloud Drive Solana to $17.5 Billion TVL

The latest milestone that Solana has achieved in July 2025 is a soaring $17.50 billion in terms of total value locked (TVL). The upsurge affirms Solana as a top smart contract blockchain and decentralized finance (DeFi) destination, aided by strong activity in staking, lending, decentralized exchanges (DEXs), and yield tactics.

TOP 10 #TVL ON #SOLANA
$JTO $KMNO $JUP $CLOUD $RAY $MNDE $DRIFT #Meteora $ORCA $FRAG pic.twitter.com/fhSdlvRaR6

— PHOENIX – Crypto News & Analytics (@pnxgrp) July 7, 2025

Jito and Kamino Lead the Pack with Over $5 Billion in Combined TVL

The staking protocol Jito (JTO) garners an oversized $2.72 billion TVL, representing 17.94 percent of the Solana network. Second behind them is Kamino (KMNO), a decentralized lending platform, with TVL or 16.03% of the total, worth $2.43 billion. These two projects total at a combined value of 5.15 billion with user confidence high towards staking and borrowing on Solana.

JUP and CLOUD Show Strength in Decentralized Trading and Yield

Decentralized exchange Jupiter (JUP) continues to surge with a $2.39 billion total value locked (TVL), enjoying a 15.77 percent stake in the total. Cloud has a TVL of $1.87B showing the increased popularity of the combined DeFi approach of trading and passive income generation.

Raydium And Drift Expand Solana’s DeFi and Staking Scope

Raydium (RAY) continues to dominate Solana DEXs with TVL of $1.77 billion. It is a gateway to the application of liquidity to the Solana ecosystem. A significant portion is also held by Marinade Finance (MNDE), which has a TVL of 1.69 billion or 11.15 percent. In the meantime, Drift, the platform that provides both DEX and staking options, has gathered its TVL up to $940.02 million, comprising 6.20% of the entire TVL of Solana. This is an indication of the increased need for hybrid DeFi tools

Meteora, ORCA, and FRAG Round Out the Top 10

Meteora, a DEX/Yield aggregator, has a TVL of 757.73 million, or 5.00 percent of locked assets. With its dynamic liquidity provisioning, Meteora attracts users who require efficiency concerning capital use. One of the first DEXs on Solana is ORCA, which now has a locked value of $360.17 million (2.38%). Finally, the last place in the top ten is occupied by the protocol named FRAG, which is a restaking protocol, and it has a sum of $300.88 million, which is 1.98% of TVL.

DeFi Future Looks Promising

This $17.5 billion TVL milestone enables one to witness a flourishing ecosystem that continues to expand far beyond simple token trading. The largest DeFi networks of Solana, including cross-functional platforms Jito, Jupiter, and Kamino, look stable and ready to expand in the future. The ecosystem could easily surpass the $20 billion asset threshold before the year 2025 with more users and developers flocking to Solana due to faster verification time, low fees, and composable protocols.

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