Decentralized exchanges (DEXs) on Solana have experienced a decline in trading volume for the fifth consecutive week, according to DeFiLlama data. In the week ending February 16, Solana DEXs recorded approximately $20.2 billion in trading volume, compared to $31.8 billion in the week ending February 10. This trend is not unique to Solana, as other blockchains like BNB Chain, Ethereum, Sui, and Polygon have also seen decreases in volume. However, Binance Smart Chain (BSC) DEXs have seen an increase in trading volume, surpassing Solana and Ethereum. The decline in Solana's volume has been attributed to meme fatigue and the prevalence of bad actors and scams in the ecosystem. Despite the decline, many analysts remain optimistic about Solana's long-term potential.



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