ChainCatcher news, according to The block, the trading environment on the Solana chain (commonly referred to as "trenches") has significantly cooled down in recent weeks. In the latter half of last week, the average daily trading volume of "graduated" tokens on pump.fun was only $560 million.This is the lowest average daily trading volume since Christmas 2024, down 82% from the single-day record of $3.13 billion three weeks ago. The graduation rate of tokens on pump.fun is also declining, with an average of only 1.04% of tokens launching on Raydium last week, compared to 1.54% and 1.59% in the previous two weeks, respectively.Meanwhile, the average daily tip paid to Jito validators on Solana last week was 23,800 SOL, approximately $4.8 million. In contrast, the average figures for the previous two weeks were 42,000 SOL (about $9.9 million) and 68,500 SOL (about $17.5 million). This decline indicates that trading activity among users is decreasing, a metric that is typically directly related to users' tendency to "bribe" Jito validators to expedite transaction speeds.

ChainCatcher news, Matrixport released today's chart stating that the performance of stablecoins is one of the important indicators reflecting market trends. Generally, an increase in stablecoin trading volume indicates a bullish market sentiment, while the growth of Tether's market capitalization reflects more fiat money flowing into the cryptocurrency ecosystem.However, when these trends reverse, it often signifies that Bitcoin and the entire crypto market are entering a correction phase. Recently, Tether's market capitalization has declined, and trading volume has also decreased, but asserting that the market has turned bearish at this point may be premature. This change may simply be a seasonal lull due to the Christmas holidays.As the new year begins, we will soon find out whether the market will regain its bullish momentum.