Mac Brennan, founder of the mrgn group, which manages a $150 million fund, discussed the prospect of a bull in Solana (SOL). Brennan argued that Solana’s locked aggregate value (TVL), a measure of how much capital is in decentralized applications (dApps), could increase significantly in the near future.
In a Twitter post, Brennan compared SOL’s TVL to Ethereum’s TVL, showing that SOL’s TVL is currently only 3% of its stake to validators, while Ethereum’s TVL is 60% of its stake. stated that. He explained that this difference is partly due to the lack of liquid staking tokens (LSTs) on SOL.
Brennan predicts that as LSTs become more popular in SOL, TVL will rise accordingly. He said that if the ratio of SOL’s TVL to staked value reaches half that of Ethereum, its TVL will be around $3 billion. If this ratio matches that of Ethereum, SOL’s TVL will be the second highest TVL in the cryptocurrency world after Ethereum.
Brennan also pointed out that most of the upcoming dApps on SOL are pre-token, meaning they have not yet released their own native tokens that could attract more capital and users. He listed several examples of promising projects in the areas of decentralized finance (DeFi), non-fungible tokens (NFTs), and data oracles that are expected to launch their tokens soon. He claimed that these token launches will further boost Solana’s TVL and ecosystem growth.