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According to on-chain data monitoring, the number of user addresses on Solana DEX has dropped to 2.852 million in the past week (December 8 to 14), hitting a new low in the past year.
This number seems a bit heavy. Looking back, during the week of January 20 this year, the number of user addresses on Solana DEX was still at a high of 24.465 million, and has been on a downward trend since then. From the peak to now, the decline exceeds 88%, and the downward trend in user activity has persisted for nearly a year.
What does this reflect? A decline in DEX user numbers usually hints at several issues: it could be a cooling of trading activity, users migrating to other chains, or the diminishing appeal of certain ecosystem applications. However, such cyclical fluctuations are common in the crypto market, and the specific reasons need to be assessed in conjunction with the overall market environment, competitive landscape, and developments within the Solana ecosystem.
Maybe switch to other chains, anyway Solana doesn't have much new stuff right now.
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They're starting to move to other chains again, Solana can't really handle this wave
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Being active with 2.85 million users is already pretty good, better than expected, right?
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Wait... is no one playing on Solana anymore? Is it already cooling off so quickly?
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Last year around this time, there were over 24 million, and now only 2.85 million... I just want to know where all that money went
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Market fluctuations are nonsense, it's obviously because everyone has moved to Arbitrum
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Is there still hope for Solana DEX? It feels like it's getting more and more deserted
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No way, dropping so hard from a high? The ecosystem applications really aren't attractive
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Decline in trading activity + user migration, a double blow for Solana
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2.88 million addresses... no matter how you look at this number, it's not optimistic
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An 88% drop in a year is really brutal, Solana is truly falling behind
Where did all the users go? Base? Or did they move on to Arbitrum to dig for gold?
Users have migrated to other chains, who’s still messing around on SOL?
I’ve heard that Base and Arbitrum are now hotter; SOL is still sleeping.
But honestly, this kind of cycle is normal. Once the ecosystem picks up, it will rebound.
Really? There are still 2.85 million people playing? Why do I feel like there are hardly any around me?
It’s always like this—waiting for the bottom before jumping in? Or just stay flat and do nothing?
But to be fair, these cyclical fluctuations are quite normal, who knows if it's a real recession or just a correction