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" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer nofollow">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 fetchpriority="high" 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" rel="noopener noreferrer nofollow">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 noreferrer nofollow" 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" rel="noopener noreferrer nofollow">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" rel="noopener noreferrer nofollow">Solana Surpasses Ethereum in Weekly Transaction Fees</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

Solana Surpasses Ethereum in Weekly Transaction Fees

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