Solana network transaction fees hit a six-month low, with activity down 85% compared to the TRUMP issuance period

ChainCatcher news, according to The Block, the total transaction fees generated by the Solana network last week were only 53,800 SOL, marking the lowest weekly figure since September 2024.

Data shows that the total transaction fees last week decreased by 10% compared to the previous week, an improvement over the past six weeks' average weekly decline rate of 25%. Notably, Solana's weekly transaction fees have dropped by 85% from the historical peak of 361,000 SOL in the fourth week of January (during the $TRUMP and $MELANIA meme coin launches).

Since the issuance of $TRUMP, Jito validator tips have also significantly decreased, averaging only $11,300 per day last week, compared to $62,000 per day during the week of $TRUMP's issuance. Similarly, the 7-day moving average of active addresses on the Solana network also fell by 35% during this period. The decline in these fundamental indicators has affected the price of the SOL token, which has dropped by about 50% since January 20.

As a major revenue and token generation platform for Solana, Pump.fun has also experienced a similar decline. Last week, an average of only 0.89% of tokens created on Pump.fun "graduated" to Raydium daily, compared to 1.6% in the third week of January. Considering the hundreds of thousands of tokens created daily on Pump.fun, this 0.71% drop is relatively significant.