Solana's on chain DApp saw a weekly transaction volume of $20.9 billion, a 30% decrease compared to the previous week

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.