As per the latest source, Solana has now outperformed the Ethereum blockchain in the daily fee collection for the last 30 days thanks to growing on-chain activities and memecoin season. In the past 30 days, the blockchain has overtaken Ethereum in fee generation, accumulating $192.06 million compared to Ethereum’s $187.67 million. With this achievement, Solana now moves up to the fifth position in terms of blockchain fees.
Solana (SOL) Nears $300 After Jump In On-chain Activities
Solana has reached a new milestone. Its layer-1 blockchain now sees Solana-based DEXes surpass $100 billion in monthly trading volume for the first time. Data from DefiLIama reveals that the 30-day cumulative trading volume of Solana DEXes has reached $116.51 billion.
This surge in Solana’s performance could have major implications for the blockchain ecosystem. As transaction fees and DEX volumes are key indicators of network activity, Solana’s recent success positions it as a strong contender against Ethereum.
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Solana (SOL) has undoubtedly been one of the standout performers this year, experiencing an impressive 300% surge over the year. This impressive rise shows the strong bullish sentiment in the market.
The asset reached a new high of $261 and while some predict that SOL could climb to $300, the upward momentum appears to be slowing. At the time of writing, the cryptocurrency hovers around $236.78 with an 8% drop in the last 7 days.
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Also Read: TON, SOL & BlockDAG: Key Players in the Next Crypto Bull Run
