70% Of Solana DEFI Wiped Out As Cardano DeFi Remains Stable | These Coins Are Also Doing Well

Looking at the Solana DeFi performance on DefiLlama, it is clear that it has been one of the biggest losers in the crypto market this month. Solana TVL declined from $1B to around $320m at the time of this writing, which is about a 70% tanking. This makes Solana the biggest loser in the top 10 crypto projects this November.

This is at a time when Cardano (ADA), as well as Bitgert (BRISE) and Centcex (CENX) TVLs, remained stable. The Solana DeFi collapse was triggered by the FTX fallout. The situation around the FTX crash has greatly affected the Solana price performance, and the Solana DeFi became one of the most affected.

Most of the DeFi products on the Solana ecosystem have experienced massive withdrawals over the last few days, and this can be seen from the overall Solana price performance. But the fall in the Solana TVL seems to be stabilizing, and we might see the project recover in the next few days.

However, Solana rivals, Cardano (ADA) as well as Bitgert (BRISE) and Centcex (CENX), were not affected heavily by the recent TVL crash. The fact that they were not labeled 'Sam coins' like Solana made them withstand the massive crash. It is also important to note that Cardano, Bitgert, and Centcex have been growing their DeFi ecosystem faster than Solana over the last few months.

Bitgert DeFi Ecosystem

Bitgert project has had one of the fastest growing DeFi ecosystems in the industry due to the huge number of DeFi products in its ecosystem. Important to note are the recent Bitgert DeFi products released and have been experiencing massive adoption. The Bitgert swap, BriseSwap, and Bitgert exchange are some of the recent DeFi products released.

The Bitgert Paybrise is another DeFi product the team plans to release in the next few days. More DeFi projects are also joining the chain. These are developments that have the potential to make the Bitgert TVL skyrocket by a massive percentage before the end of the year

Cardano DeFi TVL

The Cardano (ADA) TVL is also doing well, especially after the successful Vasil hard fork. The number of DeFi products on the Cardano chain increased. More DeFi projects are also joining this chain. These are reasons why Cardano TVL has remained stable despite the minimal plunge.

In conclusion, as Solana TVL crashes, Cardano, Bitgert, and Centcex have remained quite stable in a bearish market. This is expected to remain in the next few days.