According to Cointelegraph, SOL's recent poor performance has raised concerns among traders about the possibility of further price declines. Solana's DApp on the chain ranked second with a weekly trading volume of $20.9 billion, but performed the worst among the top 10 blockchains, with a 30% decline within 7 days. In contrast, Ethereum's on chain transaction volume decreased by 15%, while Sui decreased by 8%. Solana's network TVL reached its highest level in two years, at 44 million SOL. According to DefiLlama data, the monthly growth of 16% is driven by platforms such as Binance Staked SOL, Jupiter, Drift, and Orca. On the downside, Jito, Sanctum, and MarginFi's deposits have decreased.
