---Will Solana continue to outperform ETH as DeFi TVL returns in 2024?---
$SOL is anticipated to ascend to a top-three position in blockchain rankings based on market capitalization, Total Value Locked (TVL), and active user metrics.
This surge in prominence is expected to propel Solana into the competition for spot ETFs, with numerous asset managers submitting regulatory filings. Concurrently, as Solana continues to capture a larger share of the market, there is a viable scenario where Pyth, a Solana-based price oracle, surpasses Chainlink in Total Value Secured (“TVS”).
Presently, Chainlink holds a TVS of approximately $15 billion, overshadowing Pyth's <$2 billion, a dominance primarily established through blue-chip DeFi protocols on the Ethereum mainnet.
However, with the continuous growth of TVL on high-throughput chains like Solana and Chainlink facing challenges in garnering institutional adoption for its LINK token, Pyth is expected to gain substantial market share.
This is underpinned by several innovative features, including its "pull" architecture and a confidence interval system.
(Solana Total Value Locked)
