Solana, also known as the 'Ethereum killer', has set a new record for collecting fees and revenue in 24 hours, surpassing its main competitor.
Solana's Record-Breaking Revenue
The Solana blockchain collected $11.8 million in fees in 24 hours, surpassing Ethereum's figures, as shown by Defi Llama's data. Additionally, Solana generated $5.9 million in revenue, marking a new all-time high for the platform.
The Role of Raydium and Pump.fun
The decentralized exchange Raydium, positioned on the 'Ethereum killer', leads with over $15 million in fees for the day. The Pump.fun launchpad on Solana, known for its meme coins, recorded a one-day revenue of $2.4 million.
Solana's Rally and Prospects
Solana has seen a 295% rally over the past year, becoming the fourth-largest crypto asset with a market cap of $113 billion. The SOL price fell 1.8% in the past 24 hours after reaching $247.
Meme coins have played a key role in Solana's revenue increase, allowing it to surpass Ethereum in terms of fees. This highlights the growing investor interest in the new blockchain platform.
