Solana Surpasses Ethereum Weekly Fee Revenue for the First Time Ever
Solana has overtaken Ethereum for the first time as the blockchain network with the highest single-week fee revenue for the week of 22-28 July.Solana generated around $25 million in revenue for the week, slightly ahead of Ethereum's $21 million.
Solana was trading at $185.80 at press time, according to CryptoSlate, and despite reaching a high of $193.80 earlier in the day, it remained steady amid broader market declines. The network posted its highest one-day revenue in three months on 28 July, at $5.5 million.
Dan Smith, an analyst at Blockworks, noted that total fee revenue for Solana verifiers includes both tips and maximum extractable value (MEV). He detailed that 58% of fee revenue comes from MEV tips, while 37% comes from preferred transaction fees.
Despite Solana's significant progress in revenue and user engagement, Ethereum still leads in total locked-in value (TVL), which, at nearly $60 billion, is roughly 10 times that of Solana, according to DefiLlama.
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.
You may also like
Kazuo Ueda takes a hawkish stance, "hinting at a rate hike in September": Monetary conditions remain loose, and we hope to continue raising rates.
After the G20 meeting, Kazuo Ueda stated that monetary conditions remain accommodative and expressed a desire to continue raising interest rates, with a focus on discussing the upside risks of inflation at the September 17-18 meeting. Overnight index swaps indicate that the probability of a rate hike in September is now close to 100%. If implemented, it would break the previous interval of about six months between hikes, marking the fastest consecutive rate increase during Ueda's term. The Nikkei 225 Index and South Korea's KOSPI both fell by more than 2%, and Japanese bonds are under pressure.
Del Monte Pacific schedules first-quarter FY2027 results release
Crypto prices
More
