⚪️Solana loses 93% of its revenue due to the drop in meme coins
The Solana network has seen a significant drop in its revenue, which fell from $55.3 million per week in mid-January to just $4 million. The same happened to decentralized applications, where revenue dropped by 86%, and the total value locked in DeFi was almost halved, now standing at $6.4 billion. This decline is attributed to the waning interest in meme coins after there was initial frenzy around them.