DappRadar report finds that last month’s crypto market meltdown caused the total value locked (TVL) on smart contract platform Solana (SOL) to freefall. The data acquisition and analysis firm reports that Solana saw a 71% decrease in TVL month-on-month from October to November, crashing to $366 million.
The TVL of a blockchain represents the total capital held within its smart contracts and is calculated by multiplying the amount of collateral locked into the network by the current value of the assets. SOL is trading for $13.70 at time of writing. The 18th-ranked crypto asset by market cap is down more than 57% since November 1st when it was trading at $32.24.
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