Solana's revenues drop 93 % in two months

The rapid ascent of the Solana network at the start of the year seemed to be a new era for its ecosystem. Doped by an unprecedented speculative frenzy around the same corners, the blockchain recorded record income, reaching $ 55.3 million per week. However, the party was short -lived. In a few weeks, the craze was evaporated, which gave way to a brutal collapse. Today, the weekly income from Solana fell to $ 4 million, a vertiginous fall of 93 %. Can this sudden reversal of the situation poses a central question: Can Solana survive at the end of this euphoria and find a model of sustainable growth? On the one hand, the frantic speculation on the same corners has revealed an undeniable force of attraction of the network, but on the other, its dependence on these ultra-valatile tokens weakens the whole of its economy.

The collapse of the economy of the same corners on Solana

The current tumble has its origin in the end of the intense speculation which animated the market of the same corners, largely on the Pump.fun platform. In January, this site alone generated 80 % of Solana's income, with a peak of $ 15 million per day. But in the space of a few weeks, this financial windfall has evaporated. On March 7, the daily revenues of the platform no longer exceeded $ 800,000, a fall of 93 %.

This speculative frenzy reached its climax with the launch of the Trump and Melania tokens, introduced respectively on January 18 and 20. These assets experienced a lightning ascent before collapsing just as brutally. Trump has lost 86 % of its value since its peak, while Melania dropped by 95 % in seven weeks, and went below $ 0.71. According to Bobby NGO, Coingecko co -founder, these launches marked a turning point: “The launch of Trump and Melania absorbed liquidity and attention, which signed the end of the same corners”.

This sudden disinterest in the same corners has had direct consequences on the entire Solana network. The activity of DAPPS followed the same downward trajectory, with a drop of 86 % of the income generated by these applications. Thus, it went from $ 238 million to only $ 32 million.

A pressure blockchain: the fall of TVL and the ground

If the fall in income is spectacular, the collapse of the total blocked value (TVL) is just as critical. In January, Solana's TVL exceeded $ 12 billion, carried by the development of the same corners trading and MINTING platforms. Today, it is around 6.4 billion, a drop of almost 50 %. This massive reflux testifies to a significant withdrawal of capital, which illustrates a loss of confidence in the solidity of the ecosystem.

The soil, a native token of the network, also underwent the repercussions of this collapse. After reaching a summit of $ 293, he started a continuous descent, and lost 58 % of his value in a few weeks. Currently, the soil is negotiated around 122 dollars, which confirms a downside that worries investors.

Beyond the simple volatility of prices, this fall triggers a broader problem: Can Solana get out of this dependence on speculative trends to build a more robust ecosystem?

The collapse of the same corners and the drop in income poses a major challenge in Solana. Long praised for its speed and reduced costs, the blockchain has proven its effectiveness to support volumes of massive exchanges. However, this force may well be its weakness if it remains confined to a role of playground for speculation.

In the coming months, Solana's future will depend on its ability to diversify its economy and attract more sustainable uses, especially in decentralized finance (DEFI) and web 3 applications. The stake will be all the more crucial than other blockchains, such as Ethereum and Avalanche, seek to recover part of the users disappointed by the excessive volatility of the Solana ecosystem.