The total fees generated by the Solana network have hit a six-month low. Note that in this case, we are XEM at fees generated in SOL to maintain consistency regardless of how the price of SOL itself fluctuates.
On August 31, the Solana network generated around 3,800 SOL in daily fees. While that number has recovered slightly, it remains largely unchanged, with daily fees at around 4,000 SOL as of September 6.
This figure is in stark contrast to periods in Q2, when the network easily Medium fees of over 10,000 SOL per day.
The drop in generator fees coincided with a similar drop in Pump.fun’s popularity, suggesting a direct correlation between the two. This is further evidenced by the sharp drop in Pump.fun’s revenue in recent weeks.
On September 6, Pump.fun generated just $409,000 in fees. Compared to its peak on July 30, when it generated $2.31 million in a single day, Pump.fun's revenue on Friday represents an 82% drop. Since the end of July, the price of SOL has also dropped about 35%.
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