If you're deep into the world of meme tokens, you know Solana is where the action is. With its lightning-fast transactions and low fees, it's become the go-to chain for launching and trading viral coins. But what powers this ecosystem? A recent thread from Token Terminal on X sheds light on the top blockchains by user assets and zooms in on Solana's leading apps by Total Value Locked (TVL). TVL, for the uninitiated, measures the total amount of assets locked in a protocol—think of it as a popularity and liquidity score for DeFi projects.

The Big Picture: Where User Assets Are Flowing

Token Terminal kicked off their thread by highlighting that amid a sea of layer-1 and layer-2 blockchains, only three are hosting over $30 billion in user assets. Ethereum leads the pack with around $330 billion, followed by TRON at $82 billion, and Solana rounding out the top three with $34 billion. This data underscores Solana's growing dominance, especially when you consider how meme tokens thrive on high liquidity and efficient trading environments.

As you can see in the chart, Ethereum towers over the competition, but Solana's $34 billion TVL is nothing to sneeze at—it's more than double that of chains like Arbitrum or Base. For meme token enthusiasts, this means Solana offers a robust foundation where your favorite dog-themed or celebrity-backed coins can gain traction without getting bogged down by high gas fees.

Spotlight on Solana: Top Apps Driving the TVL

Diving deeper, Token Terminal shared a ranked list of the top applications on Solana by TVL. These aren't just any projects; many are the backbone for meme token trading, providing the liquidity pools, swaps, and staking options that keep the ecosystem humming. Here's the breakdown:

To make it easier to digest (and for better SEO, because who doesn't love searchable data?), I've recreated the table below:

Rank	Project	Market Sector	Chain	TVL
1	Circle	Stablecoin Issuers	Solana	$8.6 B
2	Kamino (KMNO)	Lending	Solana	$3.9 B
3	Jupiter (JUP)	DEX Aggregators	Solana	$3.6 B
4	Jito (JTO)	Liquid Staking	Solana	$3.0 B
5	Sanctum (CLOUD)	Liquid Staking	Solana	$2.8 B
6	Binance Staked SOL (BNSOL)	Liquid Staking	Solana	$2.3 B
7	Tether	Stablecoin Issuers	Solana	$2.3 B
8	Marinade (MNDE)	Liquid Staking	Solana	$2.2 B
9	Raydium (RAY)	Exchanges (DEX)	Solana	$1.6 B
10	Drift Protocol (DRIFT)	Derivatives Exchanges	Solana	$1.2 B
11	Meteora	Exchanges (DEX)	Solana	$691.4 M
12	Orca (ORCA)	Exchanges (DEX)	Solana	$385.6 M
13	Global Dollar Network	Stablecoin Issuers	Solana	$343.6 M
14	Ondo Finance (ONDO)	Real-world Asset (RWA) Issuers	Solana	$245.8 M
15	PayPal	Stablecoin Issuers	Solana	$221.6 M
16	Securitize	Infrastructure	Solana	$71.2 M
17	Agora	Stablecoin Issuers	Solana	$39.4 M

Stablecoin issuers like Circle (issuing USDC) and Tether (USDT) top the list, providing the essential dollar-pegged liquidity that meme token traders rely on for quick entries and exits. Without stablecoins, swapping into that hot new meme coin would be a nightmare.

Then there's the DeFi heavyweights. Jupiter, a DEX aggregator, sits at number three with $3.6 billion in TVL. It's basically your one-stop shop for finding the best swap rates across Solana's DEXes—perfect for snagging meme tokens at the lowest prices. Right behind are liquid staking protocols like Jito, Sanctum, and Marinade, which let you stake your SOL for rewards while keeping it liquid. This means you can earn yields and still have funds ready to ape into the next big meme.

DEXes like Raydium, Meteora, and Orca are meme token hotspots. These platforms host liquidity pools for countless meme coins, where traders provide liquidity and earn fees. If you've ever farmed yields on a Solana meme farm, chances are it was on one of these.

Why This Matters for Meme Token Traders

Solana's DeFi ecosystem isn't just about numbers—it's the infrastructure that makes meme token mania possible. High TVL in these apps translates to deeper liquidity, lower slippage, and more opportunities for retail traders to get in early on viral projects. As Solana continues to climb the ranks, outpacing many L2s, it's clear why it's the preferred playground for meme coins.

If you're looking to stay ahead, keep an eye on these projects. Tools like Token Terminal provide invaluable data for spotting trends. Check out the original thread on X for more insights, and remember: in the world of memes, liquidity is king.

Stay tuned to Meme Insider for more updates on how DeFi intersects with the wild world of meme tokens.