On-chain activity is terrible! What a bull market! REV across all chains has plummeted from a peak of approximately $4.9 billion in Q4 2021 to only approximately $655 million in Q3 2025! (REV = net value after deducting MEV, inflation, and pseudo-transactions) Currently: Solana: Contributed approximately $223 million in Q3 2025, primarily driven by memes. Tron: Ranked second with approximately $160 million, primarily driven by USDT transfers.
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