Solana's total value locked (TVL) has dropped to its lowest level this month, reflecting reduced activity on the Layer-1 network. Over $1 billion has been withdrawn from Solana's DeFi ecosystem since the month began, leading to a significant decline in TVL. The decrease in daily active addresses on the network suggests a shrinking user base and less on-chain activity. Currently, Solana's TVL stands at $8.01 billion, down by 12% since December 1, with $1.1 billion leaving the ecosystem. The leading DeFi protocol on the network, Jito, has experienced a 28% decrease in TVL over the past month, now at $2.66 billion. The decline in TVL aligns with a general decrease in network usage, as shown by a 7% drop in activity on the chain over the past 21 days. Additionally, Solana's network revenue has decreased due to low usage and SOL's value dropping by 28% in the last 30 days. Read more AI-generated news on: https://app.chaingpt.org/news