@whiskeredweasel
Since the beginning of this year, the Solana ecosystem has exhibited a trend of "falling from a high before fluctuating upward." TVL and stablecoin holdings have shown a step-by-step upward trend. Currently, TVL stands at approximately $10.42 billion, and the stablecoin market capitalization is approximately $11.62 billion. This indicates that the on-chain "underlying USD liquidity pool" has returned to and stabilized in the tens of billions of dollars. On-chain transaction counts remain high, maintaining active "high-frequency/long-tail" trading. $SOL's total market capitalization fell sharply in Q1, but has since shown a wave-like upward trend. From a structural perspective, the resurgence of meme popularity has marginally improved DEX/chain fees, but has not yet returned to its peak for the year.
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