Solana DApp Revenue Drops to $22 Million, SOL Price Falls 11% in Three Days to $87

Gate News reports that on March 20, Solana ecosystem decentralized application revenue dropped to an 18-month low. SOL price fell 11% over the past three days to $87, triggering $25 million in long position liquidations. Perpetual contract funding rates approached 0%, with bearish leverage demand dominating over the past month. The options market delta skew increased to 12%, with put options trading at a premium. Solana DApps revenue declined from $36 million two months ago to $22 million, the lowest in 18 months. Data shows Solana remains the leading platform in DEX trading volume but faces competition from Hyperliquid in perpetual contract trading, which holds over 80% of the market share.