• The DeFi ecosystem in Solana is further broadened by the launch of Prophex (PPX) as a leveraged prediction market.
• Solana’s total value locked (TVL) remains around $10 billion, showing considerable on-chain liquidity, even with October pullbacks.
• Prophex was highlighted by traders for achieving over $10 million in trading volume in the early hours of launch.

Solana’s DeFi ecosystem continues to advance with the launch of Prophex (PPX), the first leveraged prediction market on the network. Prophex crossed $10 million in cumulative trading volume on Meteora for total volume within hours of its launch, signalling commitment from trader engagement and confidence in Solana-based innovation.

Prophex Ignites Conversation in Solana

On X, the launch of Prophex (PPX) has sparked strong discussion among traders and analysts. A recent tweet highlighted how Prophex crossed $10 million in trading volume, a major milestone for a new Solana-based protocol. While the broader market showed mild corrections, it continues to attract innovative projects that boost both liquidity and developer activity, reinforcing its position as one of the most active DeFi ecosystems in 2025.

Market Reaction After Prophex Launch

In its first week of trading, Prophex surpassed $10 million in total volume on Meteora, which was an extremely encouraging sign of adoption. The PPX/SOL trading pair chart displays increasing activity, with obvious spikes in volume as traders get acquainted with its new leveraged prediction model.

Also Read: Solana (SOL) Gains Momentum as Bitwise ETF Attracts $126 Million in First Week

The Liquidity Environment: Market data

According to the Data from DefiLlama, Total Value Locked (TVL) has been between $9B $10Billion throughout the month of November. While TVL peaked just above $12.5B at the start of October, and began to decline midway through the month. It appears to have stabilized since, implying liquidity is being retained and that the network itself is steady during periods of volatility and uncertainty.

In summary, Solana’s DeFi ecosystem is still evolving and growing, with new projects like Prophex that will enhance the on-chain offerings. Even though the macro-market has been disjointed in the short-term, trading and liquidity are still solid, indicating its continuance as a legitimate home for DeFi activity and experimentation.

Also Read: Price Analysis: SOL Eyes $185 Rebound if $150 Support Holds Strong