The Solana network has reaffirmed its dominance in the cryptocurrency market by showcasing high transaction revenue and integration with major platforms.
Solana Network Revenue: Key Usage Metrics
According to an update shared by SolanaFloor, Solana generated over $17 million in transaction fees and out-of-protocol tips last week. The data indicates that Solana's revenue reached $17,373,751, which is over $3 million more than its closest competitor, Tron, which earned $14.15 million.
Current Market Performance of Solana
Despite the significant revenue lead, Solana has not shown sharp growth in price during the ongoing market rally. While Ethereum has surpassed the $3,000 mark and is targeting $4,000, the price of SOL has remained stagnant.
Conclusion on Solana's Future
Maintaining the lead in revenue generation compared to other L1 and L2 blockchains for 16 consecutive weeks signals the growing popularity of Solana among users. Additionally, the recent integration with Bullish, a leading institutional crypto exchange, highlights Solana's competitive edge in the global financial market.
Thus, despite the current price situation, Solana retains significant influence on the cryptocurrency market due to its high revenue generation and increasing demand for its services.
