The weekly transaction volume of DApps on the Solana chain reached $20.9 billion, a decrease of 30% compared to the previous week

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