The post Solv Protocol Overtakes Solana & Uniswap with $1.48M Fees: New Leader in BTC Staking! appeared first on Coinpedia Fintech News
In the last 24 hours, Solv Protocol, a leading Bitcoin staking platform, with a 24-hour protocol fee of $1.48m, has emerged as the sixth largest among the protocols. Interestingly, Solana, with $1.24m in fees, and Uniswap, with $1.15m in fees, have been pushed down to eighth and ninth positions, respectively. Here is what you should know about this crucial development.
Solv Protocol’s 24-Hour Performance: An Analysis
Looking at the fees and revenue chart of Solv Protocol, it is clear that the 24-hour fee of the protocol stands at $1.48m, and the 24-hour revenue remains at $295,637. At the start of October, the fee was at a level of $12.29k. On the second day of the month, it slightly rose to 20.2k. On the third day, it further climbed to $159.27k. Yesterday, it touched a peak of $1.48m. Today, it is at a range of $427.06k.
A post on X by Wu Blockchain states that the impressive performance of Solv Protocol has helped it to become the highest TVL holder within the BTCFI (Bitcoin Financial Infrastructure) ecosystem.
At present, the TVL of Solv Protocol is $1.319b. Since April, the protocol has seen a sharp rise in TVL. On April 3, it was just $109.52m. On June 17, it reached a peak of $1.403b. On August 31, it touched a peak of $1.555b – the highest recorded this year.
According to DefiLlama, Solv Protocol generated $1.48 million in protocol fees in the past 24h, ranking 6th on DeFillama, surpassing Solana (about $1.24 million) and Uniswap (about $1.15 million). Solv Protocol TVL has reached $1.4 billion, becoming the protocol with the highest…
— Wu Blockchain (@WuBlockchain) October 5, 2024
Solv Protocol Vs. Solana and Uniswap: A Comparative Analysis
The 24-hour fee of Solana is $1.24m – slightly lower than that of Solv Protocol. Meanwhile, its 24-hour revenue stands at $617,634 – significantly higher than that of Solv Protocol. On October 1, the fee was $1.12m. The next day, it rose to $1.4m. On the third day of the month, it slightly slipped to $1.24m.
The 24-hour fee of Uniswap is $1.15m – far lower than that of Solv Protocol. On October first, it was around $2.36m. Since then, it has dropped consistently. On the second day, it fell to $1.75m. The next day, it reached $1.37m. Yesterday, it was around $1.15m. Today, it stands at $1.1m.
In conclusion, this rapid rise in the fees and TVL of Solv Protocol suggests the growing popularity of the protocol in the DeFI and Bitcoin staking space.
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