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Solana Blockchain Surpasses Ethereum in Daily Fees

Solana Blockchain Surpasses Ethereum in Daily Fees

HappyCoinNews2024/10/30 09:55
By: HappyCoinNews
SOL+0.44%ETH-0.45%RAY-1.19%

Solana surpassed Ethereum by daily network commission. According to DefiLlama, over the last 24 hours Solana generated more than $2,54 million in fees, topping $28 million on October 2,07. Ethereum . This did it. Solana the fifth largest blockchain by transaction processing revenue.

Data from DefiLlama

Growth of popularity Solana is largely due to high activity on its decentralized exchange (DEX) Raydium, which recorded $3,41 million in fees in just one day.

Almost half of the collection Solana came from memecoin trading on the meme token platform Pump.fun, which has raised about $29,5 million in the past month.

Increased network activity has at times put a strain on the network, as it did earlier this year when the blockchain almost ground to a halt. For example, on April 4 Solana stopped processing transactions and forming blocks for five hours.

Despite the fact that Solana achieved significant growth in daily commissions, the network still earns less Ethereum over longer time periods. Over the last 30 days Ethereum earned about $134,6 million in commissions, which is almost twice the network's $61,3 million Solana .

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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