Network sees shift toward stablecoin activity as memecoin share declines.
Solana achieved a record number of non-vote transactions in August. Revenue for the first half of the year fell sharply compared with the same period a year earlier. The change follows the fading of a memecoin fee surge that had lifted revenue previously. Stablecoin activity grew while memecoins lost share. Transactions continue to arrive on the chain, yet they generate less payment for blockspace than before. August activity reached a new high once the earlier boom ended.
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Network sees shift toward stablecoin activity as memecoin share declines.
Solana achieved a record number of non-vote transactions in August. Revenue for the first half of the year fell sharply compared with the same period a year earlier. The change follows the fading of a memecoin fee surge that had lifted revenue previously. Stablecoin activity grew while memecoins lost share. Transactions continue to arrive on the chain, yet they generate less payment for blockspace than before. August activity reached a new high once the earlier boom ended.
CryptoSlate@CryptoSlate📊 DATA: Solana processed a record 5.2B non-vote transactions in August, even after H1 network revenue fell 87% YoY to $141M. The shift: memecoins lost share while stablecoin activity grew. More transactions are hitting the chain, but they’re paying far less for blockspace.
CryptoSlate@CryptoSlate📊 DATA: Solana processed a record 5.2B non-vote transactions in August, even after H1 network revenue fell 87% YoY to $141M. The shift: memecoins lost share while stablecoin activity grew. More transactions are hitting the chain, but they’re paying far less for blockspace.
