According to Cointelegraph, Solana's weekly revenue fell to $4 million in the last week, down 93% from $55 million at the peak of the Meme Coin mania in January. Solana's network revenue and total lock value on chain (TVL) have slumped significantly over the past two months as market interest in Meme Coin continues to decline. According to DefiLlama, Solana Blockchain's weekly network revenue hit an all-time high of $55.30 million at the peak of the Meme Coin minting mania in mid-January. However, revenue has since plummeted 93% to just $4 million in the past week, returning to the lows seen since last September.
Solana's weekly decentralized application (DApp) revenue has also dropped significantly, having dropped about 86% from $238 million in mid-January to $32 million in the past week. Meanwhile, Solana's DeFi total lock-up value (TVL) has also declined by nearly 50% in the same period, from a January high (over $12 billion) to about $6.40 billion currently.
Solana's weekly revenue plunged 93% from January highs as the Meme coin bubble burst
2025-03-11 07:08:02
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