Programming language compiler Cairo is now the third largest smart contract language by total value locked (TVL), according to DeFiLlama data.
As of Dec. 26, Cairo has a TVL of $418.23 million. In comparison, the programming language of layer1 blockchain networks like Solana’s (SOL) Rust has a TVL of $396.22 million, while Cardano’s (ADA) Haskell TVL is $53.27 million.
Solana’s Rust decline
A year ago, Solana’s Rust had a TVL of around $12 billion, coinciding with when the Layer-1 network was viewed as a major competitor to Ethereum.
Since then, the network has had to battle a series of outages, and its connection to Sam Bankman-Fried’s crypto empire birthed a cloud around the project.
According to DeFiLlama data, Solana has a TVL of $214.92 million, behind other blockchain networks like Avalanche (AVAX), Polygon (MATIC), Cronos (CRO), etc.
Meanwhile, the native token of the ecosystem SOL is down more than 90% in 2022. It is currently trading at $11.20, with several analysts
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