Solana (SOL) traded above $215, its highest level since February, disconnecting from the drop in BTC. The Solana ecosystem is getting a boost from regular inflows, with a rise in DeFi activity. Solana (SOL) rose and retained its position above $200, trading at the highest level since February. SOL recovered as high as $215, despite the slide in BTC to a lower range. The price climb coincides with a general DeFi recovery for the Solana ecosystem. Solana DeFi expanded since the April slump, rising to $11.73B, the highest level since January. | Source: DeFi Llama Solana now holds $11.73B in total value locked, surpassing the peak from January 25. The main drivers for the network included perpetual futures trading, lending, and general DEX activity. For the past month, most of Solana’s protocols increased their value locked by over 15%, mostly based on the SOL price recovery, as well as stablecoin inflows. Solana’s projects also show heightened development activity in the past month, signaling the current expansion is not just a market fluke. Santiment data shows Solana’s most active apps include perpetual futures market Drift Protocol, the Wormhole bridge, the Pyth Network oracle service, and other similar DeFi infrastructure hubs. Recently, even Jupiter joined with its native lending service , launching with 40 vaults, as reported by Cryptopolitan. Solana boosts wrapped BTC reserves One of the sources of liquidity and collaterals on Solana are various forms of wrapped BTC. Kamino Lend holds over $300M in wrapped BTC, at around 10% of its value locked. Recently, Solana also added Lombard’s LBTC as a potential collateral. Lombard was one of the Bitcoin DeFi projects aiming to tap into idle BTC liquidity with a competitive yield. 🚨NEW: @Lombard_Finance launches $LBTC natively on @Solana , a yield-bearing SPL token backed by Bitcoin. pic.twitter.com/ihmiZh1NkE — SolanaFloor (@SolanaFloor) August 28, 2025 So far, Lombard has minted $1.6B worth of BTC-backed liquid tokens, mostly on Ethereum, BSC, Base, Sonic, and other chains. The token spreads for the first time to a non-EVM network. More than 86% of the current LBTC supply is used within DeFi protocols. LBTC is the third-largest liquid token based on BTC, with a current supply of 12,576 tokens. The inflow into Solana may be small, but adds to the general drive for Bitcoin-based DeFi. The shift also elevates Solana as a chain suitable for Bitcoin-based DeFi activity. Solana’s Seeker phone to offer DeFi incentives DeFi growth on Solana has shown a trend to grow with retail access. The addition of new features on the Phantom wallet boosts general activity and coincides with value growth. In September, Solana’s native Seeker phone will open a campaign with incentives, additional yield, and perks for multiple apps. 1/ You ordered. You waited. And now, it’s finally time. Seeker Season officially begins September 8th 🧵👇 pic.twitter.com/hyTQgCWyoE — Seeker | Solana Mobile (@solanamobile) August 28, 2025 Seeker owners will have weekly access to featured apps with special perks and incentives. Users will gain early access or priority, higher yields, and exclusive features. Solana’s phone has sold up to 150,000 items in pre-orders, but shipping remains limited, starting in August 2025. The Seeker incentive season will focus on DeFi, not mentioning meme tokens. In the past month, meme platforms still competed among each other, but Solana activity shifted to larger deals. Fewer wallets engage daily with the ‘trenches’, instead moving activity to higher-value DeFi transfers. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.
