SOLANA STABLECOIN VOLUMES

Summary from the TLDR Crypto newsletter

Solana's daily stablecoin volume has dropped sharply from $74B to ~$7B since June 10. This was largely influenced by two sources: MEV Bot 7rhxnL, and Phoenix DEX, which accounted for ~$1 trillion in total transfer volume last month. This decline aligns with the Solana Foundation's removal of delegations for validators involved in manipulative trading practices, impacting the operations of MEV Bot 7rhxnL, which immediately reduced its stablecoin activity.