According to The Block's data dashboard, Solana's daily transaction fee fell to $639,000 on Monday, down 65% from its August 8 peak of $1.83 million and 87% from its March 18 all-time high of $5.08 million. Ruslan Lienkha, head of marketing at YouHodler, said the drop in daily transaction fees was indicative of reduced activity on the Solana network, with memecoin trading being the most affected. "I think the lower transaction fees are related to the cooling of memecoin hype."