Solana DEX volume declines by 24 percent

Solana's decentralized exchange (DEX) trading volume has experienced a significant downturn, falling 24.2 percent over a seven-day period to reach $11.94 billion. This decline follows a downward trend that has persisted for two weeks, with the 24-hour trading volume recently recorded at $1.85 billion, a 10.7 percent decrease from the previous day.

As DEX volume decreases, the network's revenue also faces pressure; fees earned from these trades fell by nearly 20 percent over the same period. While the price of Solana has remained relatively stable near $101.91, analysts note that the reduction in network revenue and trading activity suggests a narrowing base of demand for the blockchain.