Solana Revenue Tanks 93%: Meme Coin Market Freefall—Network Earnings Suffer

Solana’s revenue has dropped 93% as meme coin trading activity fades. Solana’s DeFi TVL fell by 50%, reflecting broader network decline. New governance proposal aims to adjust SOL token emissions based on staking. Solana’s on-chain revenue has fallen over the past two months as the meme coin frenzy that boosted its network’s success has cooled off. In January, Solana’s weekly revenue hit an all-time high of $55.3 million, driven by a surge in meme coins. However, new data shows that revenue has tanked 93%, down to around $4 million in the past week, the lowest level since September. This revenue drop is a bombshell for Solana.. Besides the revenue dip, Solana’s weekly decentralized application (DApp) revenue has also decreased, dropping by about 86%. DApp revenue fell from $238 million in mid-January to $32 million in recent weeks. These are significant hits to Solana’s ecosystem. DeFi Sector Takes a 50% Plunge These losses are happening as Solana’s decentralized finance (DeFi) sector declines, with total value locked (TVL) in DeFi projects falling by 50%. TVL dropped from over $12 billion in January to around $6.4 billion today. This De… The post Solana Revenue Tanks 93%: Meme Coin Market Freefall—Network Earnings Suffer appeared first on Coin Edition .