Due to Solana’s poor performance, the chain’s weekly transaction volume has continued to shrink since mid-January

Odaily Planet Daily News According to DefiLlama data, weekly on-chain transaction volume has been declining since mid-January, gradually falling from $173 billion to about $90 billion last week. Solana's weekly transaction volume has fallen the most during this period. From January 11 to 17, DEX transaction volume hit an all-time high of $173 billion per week. Solana was the main driver of this trend, with more than $97.5 billion in on-chain transaction activity. The following week, on-chain transaction volume remained stable, with DEX transaction volume of nearly $171 billion. BSC played a key role, with its weekly transaction volume increasing by 76% to nearly $30 billion. However, DEXs failed to hold their ground in the last week of January, with volumes falling to nearly $120 billion, a 30% decrease, a significant move that was also relevant to Solana, as the network’s weekly volume fell by nearly $40 billion, while other blockchains’ volumes remained similar to the previous week. Weekly volumes continued to shrink in the first week of February. DEXs totaled $107.4 billion, with Solana’s volume falling by nearly $10 billion. Weekly on-chain volume fell below $100 billion for the first time in five weeks, at just $90 billion between February 8 and February 14. Additionally, for the first time since early October, Solana did not lead weekly trading activity. Nearly $30 billion was traded on BSC, while $26.2 billion was traded on Solana. (CryptoSlate)