Solana, often referred to as the "Ethereum killer," has reached a new all-time high in daily revenue, thanks to the recent surge in meme coins. According to data from Defi Llama, Solana collected $11.8 million in fees in a 24-hour period, surpassing Ethereum's $6.32 million. Additionally, Solana generated $5.9 million in revenue in the same timeframe, marking a new all-time high.
The layer-1 network is second only to Tether's $13.3 million revenue over the past day. Solana's decentralized finance total value locked has also reached $8.35 billion, per Defi Llama.
The popularity of meme coins on Solana, such as Pump.fun, has contributed significantly to the network's revenue growth. Pump.fun, a Solana-based meme coin launchpad, generated a single-day record revenue of $2.4 million, surpassing Bitcoin's $2.3 million.
The high investor interest in Raydium and Pump.fun suggests that Solana's revenue growth could be mostly triggered by the meme coin trend on the network. Solana has recorded a 295% rally over the past year, becoming the fourth-largest crypto asset in the sector with a $113 billion market cap.
As the meme coin trend continues to drive Solana's revenue, it will be interesting to see how the network evolves in the coming months. Will Solana continue to be a major player in the crypto space, or will other networks begin to catch up? Only time will tell.
Predictions:
- Solana's revenue will continue to grow as the meme coin trend remains strong.
- Other networks, such as Ethereum, will begin to take notice of Solana's success and start to implement similar features to attract meme coin enthusiasts.
- The popularity of Solana will lead to increased adoption and mainstream recognition, potentially driving the price of SOL even higher.
Overall, Solana's surge in revenue is a testament to the power of meme coins and the ever-changing landscape of the crypto space. As the market continues to evolve, it will be exciting to see how Solana and other networks adapt and innovate to stay ahead of the curve.
