Solana DEX trading has sharply declined, with daily traders falling from 4.8 million to around 900,000 and transactions dropping from 45 million to 28.8 million. Experts attribute this to meme coin rug pulls and competition from Ethereum. Scams have eroded trust, prompting a shift to other networks. To counter these risks, traders are advised to verify token contracts, monitor liquidity, avoid unsolicited social media promotions, use audited projects, and diversify their investments. Despite challenges, Solana continues to innovate, as seen with the introduction of new projects like the TRUMP meme coin ETF.
Solana DEX Traders Abandon Ship Amid Meme Coin Scams and Ethereum Competition.
