Solana’s network fee revenue totaled about $50 million in the second quarter, a 44% decline from the previous quarter, Unfolded reported. Revenue was also 94% below the roughly $900 million peak recorded between the fourth quarter of 2024 and the first quarter of 2025. The decline came as memecoin trading cooled, Jito (JTO) MEV (maximal extractable value) tips decreased and base and priority fees fell.