What Are Markets Pricing Into Solana’s Fee Growth?
- $500M in Q4 fees; 75% from spot trading/liquid staking.
- Memecoin dependence, indicating immaturity but clear growth path (lending, DePIN).
- Mixed market outlook: DEX vals show skepticism, while lending/LST protocols valued favorably.
- Success hinges on diversifying fees into AI and DePIN.
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