Solana's DEX flows have shifted dramatically from where they were a year ago.
Memecoins used to account for over half the total volume on the network, but that number has dropped to around 7 percent now. Instead, stablecoin swaps are dominating, making up nearly 80 percent of activity combined.
This is not the story most people are telling. While everyone focuses on the meme fade, it actually points to real infrastructure building on $SOL. Institutions and serious traders are using it for actual transfers and liquidity, not just hype plays. Compare that to the noise still dominating parts of $ETH and even $BTC ecosystems.
The network is maturing faster than the narrative suggests.