The post SOL transaction revenue and MEV tips surpasses Ethereum appeared on BitcoinEthereumNews.com.

Solana’s transaction revenue and MEV tips have outpaced Ethereum. Solana total value locked surged by 25%, but ETH remained dominant. The crypto market has been experiencing high volatility of late, and Solana [SOL] is no exception. However, this month has seen SOL change fortunes in trading volume, market cap, and meme-coins adoptions. Two days ago, Solana hit the headlines after flipping Binance Coin [BNB] on market cap, as the former’s market cap surged to $85B. At the same time, BNB declined to $83B, according to CoinMarketCap. Solana continues its growth with higher trading volume, DEXes, and surpassing Ethereum [ETH] in fees and MEV. Solana DEX trading volume hits $2B SOL is rising, and its decentralized exchange (DEX) trading volume has surged to a record $2B. In the last 24 hrs, Solana’s DEX trading volume rose 50% to $3.09B from $2.7B, outpacing both ETH and BNB, per Coinglass. Source: Coinglass SOL beats ETH in transaction fees Looking further, Solana has attempted to dethrone Ethereum in key metrics, including total fees and MEV. On weekly charts, Solana generated $25M in transactional fees (revenue), while ETH reported $21M in the same period. Source: X Dan Smith shared the development through his X (formerly Twitter) page, stating that, “For the first time ever, Solana surpassed Ethereum in total transaction fees and MEV tips on the weekly timeframe ($25M vs $21M). Solana validators and stakers are absolutely eating this cycle.” Source: Blockworks Solana generated much of its revenues from spot DEX trading. In the last 24 hrs, it generated 58% of the value from MEV tips and 37% from fees. The $5.5M revenue has been the highest over the past two months. Source: Dune Additionally, Solana stakes have enjoyed an extensive rise in revenue, earning $32M in the past. This earning outpaced ETH, which has…

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Filed under: News - @ July 31, 2024 2:20 pm