Despite TVL’s decline, Solana NFT market and revenue see growth.it was observed that the number of DEX wallets on the Solana network grew tremendously over the last year.Source: Delphi DigitalThis growth in the number of DEX wallets on the Solana network could be a positive development for the ecosystem as a whole, as it indicates an increasing interest in and adoption of Solana.Subsequently, the revenue generated by Solana also witnessed a massive spike.
Additionally, the increasing revenue could be an indication of the growing popularity of Solana and its products. Note that this could attract more traders to the platform.However, despite the growth in DEX wallets and revenue, Solana’s total value locked continued to decline according to Defi Llama. It decreased from $295 million to $275 million over the last month. This decline in TVL could certainly be a cause for concern.