As the US stock market fell, Bitcoin went straight to 56,000. Brothers, are the bears really coming? Over the past month, on-chain activity on Solana has been declining, and people's enthusiasm for memecoin has relatively subsided. Data from Dune Analytics shows that weekly DEX trading volume was $7.7 billion last week, the lowest level in the ecosystem in 6 months. In March, Solana's daily DEX trading volume was 50% higher than Ethereum, and its 24-hour trading volume regularly exceeded $3 billion.
Solana and Bitcoin have shown a rising correlation in 2024, which has enabled altcoins to outperform BTC in the first quarter of 2024. As the market has been sideways and lower in the past few weeks, this correlation has remained, which means that altcoins have experienced greater declines than Bitcoin. #ć ćŻćžćșæ„è·
