$SOL transaction fees drop to a monthly low after peaking at $5 million in March - Optimisus Analytics

Irma - Aug 27 - - Dev Community

Solana's daily transaction costs have hit a multi-month low, indicating decreased activity on the blockchain. This decline comes as interest in meme coins on Solana fades, partly due to the launch of Tron DAO's SunPump. Notable tokens in the Solana ecosystem include Tether USD, Solana (SOL), Circle USD, Chainlink, and Render. Popular meme coins on Solana are dogwifhat, Bonk, Popcat, BOOK OF MEME, and MEW.

Despite decreasing transaction fees and a drop in meme coin activity, Solana's price has risen by 693.46% since August 2023. However, SOL has declined by 13.96% over the past month, while TRX has surged by 116.53% since August 2023. The total value locked (TVL) in key Solana platforms shows a downward trend, with Raydium's TVL down about 20% and BonkSwap's TVL decreasing over 23% in the last 30 days.

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