Solana gained nearly 6% on Friday, rallying alongside Bitcoin, as the largest cryptocurrency regains $80,000 as support. However, the total value of assets locked in the Solana chain is down $5.26 billion from its peak, a nearly 50% drop. TVL represents demand and relevance for a chain, meaning Solana is negatively affected by the shifting market dynamics.

Solana's price rally is impressive, but the decline in TVL highlights the need for more on-chain activities to sustain its growth. Market sentiment can fluctuate, but long-term value will depend on ecosystem development and user adoption.