Solana DEX trading volume drops to a low for the period, with SOL losing the $80 level as risk focus

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Deep-Sea TechFlow report, April 01, according to Cointelegraph, the Solana native token SOL declined by about 11% after encountering resistance at $93 last Wednesday. Its recent performance has significantly underperformed the overall cryptocurrency market and has tested the $80 support level multiple times. Meanwhile, Solana network fees have decreased for two consecutive months, raising market concerns that its price may further test the $75 level.

Additionally, in March, Solana network fees dropped to $18.5 million, a 42% decrease from $30 million in January. This decline was mainly driven by a contraction in decentralized exchange (DEX) trading volume. Data shows Solana DEX trading volume fell to $55.5 billion, the lowest level since September 2024. Solana’s current total value locked (TVL) is approximately $6.3 billion, still significantly behind Ethereum’s $54.1 billion. However, over the past 30 days, Solana network fees remained more than 80% higher, primarily because Ethereum has reduced mainnet fees through its Layer2 Rollup and data Blob mechanisms.

SOL0.92%
ETH3.05%
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