Solana's Daily Stablecoin Trading Volume Mysteriously Plunges From $75-100 Billion to $7 Billion

The apparent plunge has left investors unsettled, with some pointing to wash trading as a potential explanation.

Solana daily stablecoin trading volume has seen a drastic decrease, dropping from $75-$100 billion to a current $7 billion.

This significant decline has raised eyebrows among investors, with some speculating that wash trading may be a contributing factor.

Wash trading involves a trader simultaneously buying and selling an asset to inflate its trading volume.

By acting as both the buyer and seller, they create an illusion of high activity, which can then be used to manipulate the market.

This practice is prohibited and can lead to legal repercussions.

Solana has faced persistent allegations of wash trading, which could explain the inflated trading volumes reported in the past.

However, the recent drastic decrease in stablecoin trading volume suggests that these inflated figures may now be coming to an end.

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