In the past seven days, Solana's on-chain transaction volume has declined by 28%.

According to DefiLlama, Solana's on-chain trading volume fell by 28% in the seven days ending February 10, totaling $31.80 billion. The slowdown in decentralized exchange (DEX) activity could herald the end of the recent memecoin boom, which peaked on January 19 with the launch of the official Trump (TRUMP) token.