Meme Insider
Have you ever wondered what makes a blockchain like Solana tick? It's not just the tech—it's the apps and businesses built on it that really drive the value. Recently, Token Terminal shared a fascinating snapshot on X (formerly Twitter) showing the top projects on Solana ranked by Total Value Locked, or TVL. TVL is basically a measure of how much crypto is deposited into a project's smart contracts—think of it as a gauge of trust and activity in the ecosystem.
The post kicks off with a bold statement: "a chain is only as good as the businesses it hosts." And they're spot on. Solana, known for its lightning-fast transactions and low fees, has become a hotspot for meme tokens. But behind the viral cat coins and dog memes are robust DeFi (Decentralized Finance) projects that provide the infrastructure for trading, lending, and staking. These tools make it easy for anyone to jump into the meme game without breaking the bank on gas fees.
Looking at the list, it's clear Solana's ecosystem is thriving. Here's a breakdown of the top performers, with their market sectors and TVL figures as of late August 2025:
Top Solana Projects by TVL
Circle ($8.4B TVL - Stablecoin Issuers): Circle issues USDC, one of the most popular stablecoins. It's the backbone for trading on Solana, letting users swap in and out of volatile meme tokens without wild price swings.
Kamino ($4.6B TVL - Lending): This lending protocol allows users to borrow and lend assets efficiently. For meme enthusiasts, it's great for leveraging positions on hot tokens without selling your holdings.
Jupiter ($3.6B TVL - DEX Aggregators): Jupiter scouts the best swap rates across Solana's decentralized exchanges. If you're trading meme coins like the latest viral sensation, Jupiter ensures you get the best deal with minimal slippage.
Jito ($3.1B TVL - Liquid Staking): Jito focuses on liquid staking, where you can stake SOL (Solana's native token) and still use it elsewhere. This keeps liquidity flowing, which is crucial for the fast-paced meme market.
Sanctum ($2.7B TVL - Liquid Staking): Similar to Jito, Sanctum offers liquid staking solutions, helping users earn rewards while keeping their assets flexible for meme trading sprees.
The list goes on with heavy hitters like Binance Staked SOL, Marinade, Tether (another stablecoin giant), Raydium (a DEX), and Drift Protocol (for derivatives). Even real-world asset (RWA) issuers like Ondo Finance and BlackRock are making waves, bridging traditional finance with crypto.
What stands out is how these projects create a fertile ground for meme tokens. Solana's meme coin craze—think tokens like BONK or WIF—relies on cheap, quick trades. DEX aggregators like Jupiter and exchanges like Raydium handle the volume, while stablecoins from Circle and Tether provide the on-ramps. Lending protocols let degens (crypto slang for high-risk traders) amp up their bets, and staking keeps the network secure and rewarding.
Token Terminal emphasizes studying these businesses, and they're right. For blockchain practitioners diving into memes, understanding TVL leaders helps spot where the action is. High TVL often means more liquidity, better security, and stronger community trust—key for any meme token's survival.
If you're eager to dive deeper, check out Token Terminal's full explorer for Solana's ecosystem TVL here. Who knows? The next big meme might be building on one of these foundations right now.
Stay tuned to Meme Insider for more insights on how DeFi and memes intersect in the crypto world. What's your favorite Solana project? Drop a comment below!
