Solana's Latest Achievement in the Crypto World

user avatar

by Giorgi Kostiuk

2 years ago

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.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Thailand's SEC Takes Action Against Bitget for Unlicensed Operations

Thailand's SEC has filed a criminal complaint against BG Limited for allegedly operating the cryptocurrency exchange Bitget without a license.

user avatarAndrew Smith

VanEck Sees Buying Opportunity in Bitcoin Mining Stocks After Market Correction

VanEck sees a buying opportunity in Bitcoin mining stocks after a market correction, citing limited electricity capacity and delays in grid connections as potential advantages.

user avatarZainab Kamara

Bitcoin Mining Stocks Plummet Amid AI Infrastructure Concerns

Bitcoin mining companies that expanded into AI infrastructure saw an average stock price decline of 35% in October 2023 due to market fears about rising borrowing costs and economic uncertainties.

user avatarJacob Williams

Proposed Loss Carryforward Mechanism for Cryptocurrency Investments

South Korean government officials proposed a three-year loss carryforward mechanism for cryptocurrency investments to create a balanced taxation approach.

user avatarTando Nkube

Samsung Wallet Introduces Stablecoin Functionality for Galaxy Users

Samsung Wallet has launched a feature for US Galaxy users to manage stablecoin accounts, allowing them to buy, hold, send, and receive USDC on the Solana blockchain.

user avatarSon Min-ho

Evernorth Registers 737 Million Shares, Raising Concerns Over Stock Pressure

Evernorth has registered up to 737 million shares for potential resale, raising concerns about selling pressure on its stock.

user avatarAyman Ben Youssef

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.