As of October 21, the crypto market witnessed a surge in sentiments of Solana flipping Ethereum. The Solana-based Jito protocol surpassed Ethereum and USDC in fee collection, drawing significant attention.

Record Fee Collection by Solana

Jito became the second-highest fee-collecting protocol by gathering $4.16 million in 24-hour fees, trailing only Tether (USDT). This significant increase in fee collection showcases Solana's enhanced performance metrics.

Jito's Performance Growth

The rise in Jito's fee collection is linked with the increasing Solana meme coin prices, which raises MEV rewards. Solana processed record DEX volumes, and Raydium, its main DEX, also saw increased protocol fees.

Economic Impact for Solana

With the network's growth, debates arise on how to measure Solana's success. Currently, Solana makes 90% of Ethereum's fees, marking a pivotal moment. Jito emerges as a key player in Solana DeFi, with JitoSOL on the rise.

Solana has reinforced its position in the crypto economy, surpassing Ethereum in several economic measures. Jito continues to shape the market, proving its significance in the Solana ecosystem.