【Analyst: If the Solana on-chain trading ecosystem is viewed as an 'independent financial category', it currently ranks third in profitability】 According to Golden Finance, David Duong, Head of Institutional Research at Coinbase, and analyst David Han pointed out in a report released this week that if the Solana on-chain trading ecosystem is seen as an 'independent financial category', it currently ranks third in profitability, only behind stablecoins and Layer 1. David Duong noted: 'Trading-related activities on Solana typically account for 75-90% of on-chain transaction fees, far higher than other networks like Ethereum, Base, and Arbitrum. While Layer 2 solutions also show growth and innovation, they often face different scalability challenges and user fragmentation issues compared to Solana. The fee dynamics and user activity patterns of Solana remain unique.'