Ethereum

2024

Solana

Million

<ul class="list-ic vertical">
 <li><span>1</span> <a>Solana’s profitability outshines Ethereum, crossing the $2 Million mark in economic value, while Ethereum sees a post-peak downturn due to the EIP-4844 rollout.</a></li>
 <li><span>2</span> <a>Post-event optimism has fueled investor confidence, casting the $200 threshold as the new benchmark for Solana’s ascent.</a></li>
</ul>
<p>Solana has surpassed Ethereum in terms of profitability for the very first time. As per Leon Waidmann, who is a popular on-chain analyst, Solana recently eclipsed Ethereum in daily economic value.</p>
<p>He further added that the analysis does not include Ethereum’s role as a medium of exchange and energy source on its various Layer 2 (L2) solutions.</p>
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  <p lang="zxx" dir="ltr"><a href="https://t.co/urNwqucfEv" rel="noopener noreferrer nofollow">https://t.co/urNwqucfEv</a></p>— Leon Waidmann | On-Chain Insights <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f50d.png" alt="🔍" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@LeonWaidmann) <a href="https://twitter.com/LeonWaidmann/status/1790604787836391471?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 15, 2024</a>
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<p>This development underscores Solana’s escalating influence within the blockchain sphere and suggests a possible shift in the dominance among top blockchain platforms. Let’s delve into the implications of Solana’s remarkable progress and its potential effects on the future valuation of SOLNA crypto.</p>
<h2 class="wp-block-heading" id="strong-the-tectonic-shift-in-blockchain-solana-s-emergence-strong"><strong>The Tectonic Shift in Blockchain: Solana’s Emergence</strong></h2>
<p>From February to May 2024, <a href="https://www.thecoinrepublic.com/2021/05/15/pulsechain-a-fork-that-will-address-ethereums-high-gas-fees/" rel="noopener noreferrer nofollow">Ethereum’s economic </a>value soared to $40 Million before experiencing a decline, eventually leveling out between $10 Million and $15 Million.</p>
<p>In contrast, Solana demonstrated a consistent upward trajectory, ultimately eclipsing Ethereum with an economic value slightly above $2 Million by May 12, signifying a pivotal shift in the blockchain landscape.</p>
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  <p lang="en" dir="ltr">For the first time ever, <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@solana</a> has recently eclipsed <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@ethereum</a> in daily economic value or "revenue" for Boomers.<br><br>Friendly reminder that <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> is currently 1/5th the value of <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>. <a href="https://t.co/darZVOXDYz" rel="noopener noreferrer nofollow">pic.twitter.com/darZVOXDYz</a></p>— ◢ J◎e McCann <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9ca.png" alt="🧊" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@joemccann) <a href="https://twitter.com/joemccann/status/1790487134752895483?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 14, 2024</a>
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<p>The term “total economic value” encapsulates the aggregate value of all network transactions over a given timeframe, encompassing transfers, trades, and smart contract engagements, thereby serving as a barometer for the blockchain’s comprehensive activity and practicality.</p>
<p>Moreover, Solana’s capacity to process thousands of transactions per second (TPS) at a substantially lower cost than Ethereum has rendered it a preferred platform for various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). This increase in utilization and adoption has played a crucial role in Solana’s landmark accomplishment.</p>
<h3 class="wp-block-heading" id="strong-investors-fueled-confidence-can-solana-eye-200-as-next-milestone-strong"><strong>Investors Fueled Confidence: Can Solana Eye $200 As Next Milestone?&nbsp;</strong></h3>
<p>At the time of writing, Solana had reported a positive development of 7.07% intraday, surpassing the 50-day exponential moving average. Despite this gain, it remains within bearish zones. The immediate resistance is at the $160 mark, and overcoming this could pave the way to further gains, potentially reaching $175 and the significant $200 milestone.</p> 
<p><a href="https://in.tradingview.com/chart/SOLUSD/koQ0JNLW-Solana-Beats-ETH-In-Profitability-For-The-First-Time-What-s-Nex/" rel="noopener noreferrer nofollow"> </a> <a href="https://in.tradingview.com/u/Ritika_TCR/" rel="noopener noreferrer nofollow"> </a>&nbsp; <a href="https://in.tradingview.com/" rel="noopener noreferrer nofollow"> </a></p> 
<p>Should Solana break past the $160 resistance, it could signal the conclusion of its corrective trend, potentially initiating a bullish phase that might lead to a new high for the year. Nonetheless, a broader market rally would be essential to sustain this upward momentum.</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

Solana Beats ETH In Profitability For The First Time: What’s Next

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Thecoinrepublic.com

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