According to Dune Analytics data, the performance of the Solana chain was sluggish in March. In terms of NFTs, the average daily sales of NFTs on the Solana chain fell sharply, from 27,000 in February to 7,000, a drop of more than 70%.
Solanart, Solsea and MagicEden three NFT market transactions on Solana chain accounted for 81% of the total NFT transaction volume on Solana chain, but with the increase of user withdrawals, the average daily number of unique users in these NFT markets dropped to below 2000 in March .
In terms of DeFi, although Solana is the fifth largest DeFi blockchain in terms of lock-up volume, the lock-up volume of more than 60 DeFi protocols on the chain is still comparable to the level at the end of February. Although the total lock-up volume on the Solana chain once pushed up to 7.4 billion US dollars, it soon fell below 7 billion US dollars, and the data on March 22 showed that it was about 6.9 billion US dollars.