- The DEX volume raised the Solana chain fee to the level of October 2024.
- The market is now focusing on next week’s Fed meeting for potential catalysts.
The DEX trading volume of the top chain decreased by 60% in the highest in January, Solana (SOL) The most difficult thing depending on the coinbase analyst.
In January, DEX Volums reached its peak at $ 4575 billion. By the end of February, Dex volume dropped to less than $ 300B. As of mid -March, the monthly volume is $ 100B per data aggregated by defares by block.
Source: Block
Solana was hit the most
The top platforms of SOLANA, such as Raydium, Meteora and Orca, drove most of the January Dex volume, especially after Trump and Melania Meme-Coins were released.
Unfortunately, Solana Memecoins had a lot of cold in January, and Coinbase (CB) analysts noticed in the weekly market. examine.
“Memecoin trading activities have become a big hit reflected in the 82% decrease in Solana since the US president in January.”
In fact, PUMP.FUN’s trading volume, Pump.fun, the main driver of Solana’s Meme Mania, fell to the lowest point in October 2024. As a result, CB analysts added.
“This had a second impact on the Solana transaction fee, which has reached the lowest level (SOL) since September 2024.”
Source: Defillama
From the perspective of SOL, the chain rate fell from 141K SOL in January to 7K SOL.
The value of the SOL has also been tank with godly speculative interest since mid -January. It dropped from $ 295 to $ 112 before it fried for $ 134 for the press time. Nevertheless, Altcoin still decreased by 55% from a record high.
On the contrary, Ethereum’s DEX volume was maintained flexibly according to the CB report.
In other words, the decline is also wider Market contractionAccelerated by macroscopic uncertainty in the Trump tariff war.
According to CB analysts, the risk -off trend can continue unless the next week’s FOMC meeting stops quantification (QT) and stabilizes the market.
“I think there is a high possibility of pause or suspension in QT as the bank preliminary level approaches 10-11%of the GDP threshold, which is considered enough to maintain financial stability.”