Solana DEX trading volume hit $2.517 billion, marking a continuous decline since mid-December.
Raydium and Orca volumes dropped, but Meteora saw an 18.65% rise last week.
Trading volume on Solana-based decentralized exchanges (DEX) has recently shown a fairly significant downward trend. According to data from DeFiLlama, on February 16, 2025, Solana’s DEX trading volume was recorded at $2.517 billion, marking its lowest point since mid-December last year. This drop extends the five-week downtrend that has been running.
Meme Coin Losing Appeal?
Investor saturation with the meme coin trend seems to be quite correlated with this decrease in trading volume. Solana’s on-chain transaction volume dropped by 28%, according to Binance’s analysis, equating to $28.8 billion at the period closing February 10, 2025.
Considered more stable and having diverse potential among the volatility of meme coins, many investors have begun to migrate to BNB Chain.
Furthermore, Jason Lau, Chief Innovat
