Ethereum killer Solana has gotten stronger again. Will it succeed this time?
Written by: Huo Huo
In 2024, the “Ethereum killer” Solana is unstoppable. In the week of July 22, Solana’s main chain weekly total fees exceeded its competitor Ethereum for the first time, with revenue of about $25 million, while Ethereum’s revenue was $21 million. On July 28, total fees exceeded $5.5 million, a three-month high. And just after the crypto market plummeted across the board on Black Monday this week, as the market regained its sanity, Solana’s price soared by more than 35% in less than 48 hours, surpassing Bitcoin’s increase.
Source: Blockworks Research
It can be said that after experiencing the ups and downs of the past two years, Solana and its ecosystem have once again become the focus of the market. This time, the momentum is vaguely overshadowing Ethereum. However, many projects previously known as "Ethereum killers" have failed in the end. Can Solana finally succeed in the challenge? Today, let's review the birth and rise of Solana and the latest development status of Solana's ecosystem, and perhaps find some clues...