We now have seen altcoins like Zcash (ZEC), Hyperliquid (HYPE), and BNB (BNB) seize most traders’ consideration, partially due to the launch of the primary exchange-traded funds (ETFs) for these final two in the US.
Nonetheless, the Solana blockchain, alongside Ethereum (ETH), has little to present for by way of technical progress or the development of current tendencies like DeFi, TradFi, and even meme cash.
DEX Volumes Drop by 62% as Meme Coin Buying and selling Is No Longer a Factor
Though transaction volumes inside Solana rose to a brand new weekly file at 959 million in early February, they’ve progressively retreated and have plateaued previously few weeks at round 700 million.
In the meantime, decentralized exchanges within the Solana ecosystem have skilled a gradual drop in transaction volumes as effectively, as merchants appear to have misplaced their curiosity in meme cash after getting burned throughout the newest bear market.
