Solana transaction fees have dropped to their lowest level since September 2024, leading to a significant decrease in on chain activity

According to The Block, the total transaction fees generated by the Solana network last week were only 53800 SOL, the lowest level since September 2024, a 10% decrease from the previous week. Among them, 77% of the fees come from the "Jito prompt fee" paid by users to validators, which has significantly decreased since the peak period of TRUMP and MELANIA memes (the fourth week of January). The 7-day average of active addresses on Solana's chain (7DMA) also decreased by 35% during the same period, resulting in a drop of approximately 50% in SOL prices since January 20th. In addition, the "graduation" rate of tokens on the Pump.fun platform in the Solana ecosystem (migrated from Pump.fun to Raydium DEX) has dropped to 0.89%/day, far below January's 1.6%/day.