According to the latest report released by The Block, a data tracking platform under Jinse Finance, the Solana network has recently experienced a noticeable decline in transaction fees. On August 8th, the daily average transaction fee on Solana once reached a peak of $1.83 million, but then rapidly dropped to $639,000 on Monday, showing a significant reduction of 65%. Compared to the historical high point of $5.08 million on March 18th, this number has dropped by an impressive 87%. Ruslan Ryankov, the market director at YouHodler, interprets this phenomenon and believes that the drop in Solana's transaction fees might be closely linked to the cooling down of the memecoin craze.