On February 21, Cointelegraph reported that Memecoin fraud is weakening community trust, especially the Libra token incident, which has led to a significant decline in Solana user activity. In February, the number of active addresses on the network dropped to a weekly average of 9.5 million, a drop of nearly 40% from the 15.6 million active addresses in November 2024. As confidence in Solana wanes, millions of dollars worth of cryptocurrency are moving from Solana to other blockchains, suggesting that potential capital outflows could have a net positive impact on blockchain's long-term growth.