The entire Solana DEX trader base since 2023 would fit inside Dubai.


Cumulative unique traders since Nov 2023: 1.52M.
From the chart, we can see that recurring traders are holding up reasonably well given the current market conditions.
But first-time traders have been declining for the past 3 months straight, and are now at new lows.
Three things keeping new traders out:
→ DeFi onboarding is still painful
→ Sentiment is low
→ CEXs are easier
Solana needs a fresh narrative or a real bull market to wake up.
SOL-1,1%
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