🔥NEW

Solana has just surpassed Ethereum in 7-day transaction fees, with an impressive $62 million compared to Ethereum's $60.3 million. This milestone marks a significant win for Solana in the blockchain space, demonstrating its growing adoption and usage.¹

Solana's surge in fees can be attributed to its superior transaction efficiency and the increasing popularity of meme coins on its platform. The network's largest decentralized exchange, Raydium, has been a major contributor to this growth, generating over $3.41 million in fees.

*Key Takeaways:*

- _Solana's 7-day transaction fees:_ $62 million

- _Ethereum's 7-day transaction fees:_ $60.3 million

- _Reasons for Solana's growth:_ Superior transaction efficiency and increasing meme coin popularity

- _Raydium's contribution:_ Over $3.41 million in fees

It's worth noting that while Solana has taken the lead in transaction fees, Ethereum still dominates in terms of Total Value Locked (TVL), with a staggering $60 billion locked in its ecosystem.² However, Solana's TVL has been growing steadily, reaching $8.4 billion, and its price has increased by 1% to approximately $244.

This development highlights the intensifying competition between Solana and Ethereum, with Solana gaining ground in transaction fees and adoption. As the blockchain space continues to evolve, it's exciting to see how these two giants will continue to innovate and compete.