Ethereum

Future

2024

Solana

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-surpasses-ethereum-in-weekly-transaction-fees/" data-wpel-link="internal">Solana Surpasses Ethereum in Weekly Transaction Fees</a> 
The largest altcoin by market value, Ethereum (ETH), is also the biggest smart contract platform. Trillion-dollar giants and major banks are tokenizing assets on this network. Popular crypto protocols operate on this network and layer2 solutions. However, one of the Ethereum killers has managed to surpass it in at least one aspect. 
<h2 style="text-align: justify" id="ethereum-and-solana">Ethereum and Solana</h2> 
In terms of TVL, network protocols, and many other aspects, Ethereum is beyond its competitors. In fact, under current conditions, we can say it is unrivaled. But we cannot say it is invincible in every aspect. Especially with transaction fees significantly weakened by Dencun, <a href="https://en.coin-turk.com/solana-price-analysis-will-the-downtrend-end-at-20-6/" data-wpel-link="internal">Solana</a> did what was expected and surpassed it in weekly transaction fees. 
According to the Blockworks Research report, in the week of July 22, Solana surpassed Ethereum for the first time in total weekly fees. Solana collected $25 million in transaction fees, significantly surpassing Ethereum’s $21 million. 
<img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-375041 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/solana-vs-ethereum-.png" alt="" width="876" height="484"> 
The meme coin frenzy on the Solana network enabled a few lucky <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> and developers to gain thousands of times their investment. These stories attracted new investors to new altcoins. However, it should be remembered that such meme coins are like a flash in the pan, and with over a hundred thousand tokens issued weekly, this is not surprising. 
<h2 style="text-align: justify" id="future-of-the-solana-network">Future of the Solana Network</h2> 
According to DeFiLlama’s data, the total value locked (TVL) on Solana is increasing much faster than expected. The total value locked at the beginning of 2024 has more than tripled, reaching $5.5 billion. Earnings from daily transaction fees also exceeded $5.5 million, surpassing the three-month (bull period) mark. 
According to Dune’s analytics page, Solana stakers earned more than $32 million in cumulative rewards. Tips for validators and MEV significantly increase earnings here. 58% of the fees come from MEV tips, and 37% come from fees sent to prioritize transactions. 
In terms of total value locked, the Ethereum network stands at exactly $60 billion. This means it is still more than 10 times ahead of Solana. At the same time, according to DeFiLlama, Ethereum hosts the most protocols with 1,135. Moreover, these protocols are the most popular in the crypto <a href="https://newslinker.co/category/science/space/" target="_blank" rel="noopener" data-wpel-link="exclude">space</a>. 
Crypto analyst Slorg warns on one issue; 
<blockquote> 
 “Exactly half have dropped over 99%. New tokens on the Solana network resulted in significant losses for investors. Let me remind you, this is just within a month of their lifespan.” 
</blockquote> 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/solana-surpasses-ethereum-in-weekly-transaction-fees/" data-wpel-link="internal">Solana Surpasses Ethereum in Weekly Transaction Fees</a></h5>
The post <a href="https://en.coin-turk.com/solana-surpasses-ethereum-in-weekly-transaction-fees/" data-wpel-link="internal">Solana Surpasses Ethereum in Weekly Transaction Fees</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Solana Surpasses Ethereum in Weekly Transaction Fees

Table of Contents

COINTURK NEWS

Další články publikované 29. 7. 2024

Cantor Fitzgerald on Wall Street to Launch Bitcoin Financing and Lending Business

South Korea's New Crypto Law Takes Effect: What We Know

Bitcoin Nears $70K Resistance: What to Watch for in 48 Hours

University Of Wyoming Launches First-Ever Academic Bitcoin Research Institute

Bitcoin Inches Toward $70,000 Following Trump’s Heightened Crypto Endorsement

onsemi (ON) Reports Q2 2024: $0.96 EPS, $1.74 Billion in Revenue

Join our free newsletter for daily crypto updates!