Solana’s weekly revenue plunges 93% from January high as meme coin bubble bursts
According to Cointelegraph, Solana's weekly revenue fell to $4 million last week, a 93% drop from the peak of $55 million during the January Meme coin frenzy. Over the past two months, as interest in Meme coins has continued to decline, Solana network revenue and total value locked (TVL) on the chain have plummeted. According to DefiLlama data, Solana blockchain's weekly network revenue hit a record high of $55.3 million during the peak of the Meme coin minting frenzy in mid-January. However, revenue has since plummeted by 93%, reaching only $4 million in the past week, returning to a low point not seen since September of last year.
Japanese media: Japan failed to obtain US tariff exemption commitment
According to Kyodo News, Japanese Minister of Economy, Trade and Industry Toshimitsu Motegi held talks with U.S. Commerce Secretary Wilbur Ross in Washington, trying to shield Japan from the impact of the Trump administration's proposed tariffs on imports, including cars and steel. However, Motegi stated that the two sides did not discuss exemptions, and he did not receive any commitments from the U.S. in the negotiations. This means that Japan is likely to be included in the scope of the U.S. steel and aluminum tariffs set to take effect on March 12. Motegi emphasized the contributions of Japanese companies to investment and employment in the U.S., and confirmed that the two governments will continue to have close consultations in the future. The discussions also involved energy cooperation between Japan and the U.S., including the liquefied natural gas development project in Alaska. (Krypton)