Driven by the Memecoin craze, Solana's price is not only close to historical highs, but its ecological protocol has also achieved record fee income, highlighting its current strong competitiveness in the public chain field. (Preliminary summary: Vitalik: Solana’s demand for decentralization is much lower than that of ETH, and Ethereum is the only one comparable to Bitcoin) (Background supplement: Comprehensive interpretation of the current situation of Raydium, the largest DEX in Solana’s ecosystem) The recent crazy speculation in Memecoin has triggered a broad market craze. , multiple protocols in the Solana ecosystem that have seized on this trend have also benefited from this, setting a record high in fee income. According to on-chain data platform DeFiLlama, more than half of the top 15 protocols by fee generation in the past 24 hours came from the Solana ecosystem. Decentralized finance commentator Patrick Scott said: This is either a huge top signal or a fundamental shift in market activity. An overview of Solana ecological project fee income. The following is the Solana ecological protocol that has performed well recently and its 24-hour fee (Fees) data: Raydium Category: Dexes (decentralized exchange) Fee: $11.79 million Introduction: Raydium as Solana An efficient liquidity provider on the Internet, it is deeply integrated with the Serum exchange to provide users with fast transactions, low-cost liquidity mining and income farm services. Solana Category: Chain (L1 public chain) Handling fee: US$8.06 million Introduction: Solana is a high-performance public chain known for its low transaction costs and high throughput. It is based on the Proof-of-History (PoH) consensus mechanism. Becoming a popular choice for high-frequency trading and decentralized applications. Jito Category: Liquid Staking (Liquid Staking) Handling Fee: $7.89 million Introduction: Jito is Solana’s liquid staking protocol, focusing on improving SOL staking benefits while ensuring a balance between capital utilization and network security. Photon Category: Telegram Bot Handling Fee: US$2.36 million Introduction: Photon is a transaction management tool specially built for Telegram users. It supports multiple functions on the Solana chain and is very popular among the DeFi community. BONKbot Category: Telegram Bot Handling fee: $1.71 million Introduction: BONKbot is a trading tool on Telegram, related to Solana’s BONK community and tokens, and focuses on making it easy to perform DeFi operations. Pump Category: Launchpad (Meme Coin Issuance Platform) Handling Fee: US$1.65 million Introduction: Pump, as the decentralized meme currency launch platform of the Solana ecosystem, helps new meme currency projects raise funds and provides priority token distribution. Trojan Category: Telegram Bot Handling Fee: US$1.19 million Introduction: Trojan provides automated management tools for communities in the Solana ecosystem to facilitate users to perform token transactions and interact with the community. Solana Price Climbs Near All-Time Highs Solana (SOL) has been on a strong run lately, fueled by the Memecoin craze. According to the latest data, SOL reached a high of $244.07 today, just 6.11% away from the all-time high of $259.96 set in 2021. However, it is worth noting that although the price is slightly lower than the historical high, as SOL's token supply continues to be issued, the market value has actually reached a new high, reaching $114.8 billion, an increase of 49% from $77 billion in 2021. According to data from SolanaCompass, Solana’s current inflation rate is 4.904% and is declining at an annual rate of 15%, and newly minted SOL continues to be used to reward stakeholders involved in ecological construction. Solana (SOL) price related reports in the past month Vitalik: Solana’s demand for decentralization is much lower than that of ETH. Ethereum is the only comprehensive interpretation of Solana that is comparable to Bitcoin. The current situation of Raydium, the largest DEX in Solana’s ecosystem. Arthur Hayes: I am more optimistic about Solana than ETH. , the election result is not important, "Fed interest rate cut" is the key. "Solana ecological protocol fees hit a record high, is the top signal still a fundamental change in the market?" This article was first published in BlockTempo (Dong District Dong Trend - the most influential Blockchain News Media).