Solana, a prominent blockchain platform, has recently experienced a significant decline in memecoin activity, with traffic plummeting by over 80%.
Despite this downturn in the memecoin sector, the network’s decentralized applications (dApps) have managed to maintain a strong presence, generating the majority of the blockchain’s revenue.
Data from March indicates that Solana’s dApps accounted for 46% of total earnings across all blockchains, and recent reports suggest that they still represent over 70% of on-chain revenue.
However, the overall revenue on the Solana network has seen a drastic decrease of more than 90% since January.
