No Chain Comes Close: Solana Leads With 2.5x Ethereum’s Revenue
Solana has pulled well ahead of other networks on a key measure: revenue. That gap is large enough to change how traders and builders talk about where money flows in crypto. Related Reading: Altcoins Feel The Pinch As Crypto Market Sentiment Sours Solana Tops Blockchain Revenue Charts According to data shared by crypto media outlets, Solana has generated $1.25 billion in revenue year-to-date. That is about two and a half times the revenue of Ethereum, which sits at $523 million so far this year. Only two other chains have cleared the $100 million mark: BNB Smart Chain at $148 million and....
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Solana is gunning for Ethereum’s crown as the battle for supremacy among smart contract platforms rages on. Even though Ethereum continues to lead the pack in this regard, it has not discouraged others who have been rapidly growing to steal market share from it. Solana has no doubt been the most powerful of these contenders, […]
The Solana smart contract project is suffering from issues once again after it was discovered that close to 8,000 Solana-based wallets have been compromised. Solana is asking victimized wallet owners to complete a survey and the team stressed that “engineers are investigating the root cause.” Solana Investigates Massive Wallet Exploit, Root Cause of the Hack Is Still Unknown After the chain had halted on a few occasions in the past, Solana users are now dealing with an extensive wallet vulnerability that affected specific wallet software such as Phantom and Slope. Solana....
Ethereum’s dominance as the blockchain of choice for DAOs remains strong, but there is a case being made for other chains which may be better suited. The crypto community and industry have chosen Ethereum as the chain of choice for most blockchain-based decentralized applications, but other chains may be better suited to handle the workload for decentralized autonomous organizations (DAOs).Technical advantages and cheaper transactions have yet to become a major pull factor from Ethereum Virtual Machine (EVM) chains. EVM compatibility enables a network to use Ethereum’s security features.....
Daily transactions in the Solana blockchain consistently increased, ending with more than 40 million daily transactions compared to Ethereum’s 1 million daily transactions between April and June. Hype does not always equate to greater adoption, as the on-chain data from the second quarter of 2022 shows Solana (SOL) surpassing Ethereum (ETH) in users’ daily transactions despite various drawbacks from both macroeconomic conditions and network outages. Throughout the second quarter, Solana’s daily transactions consistently increased, ending with more than 40 million daily transactions....
A recent report by market intelligence firm Messari has highlighted an extraordinary performance by Solana (SOL) during the fourth quarter of 2024, characterizing it as potentially the best quarter for any blockchain in history. Solana Becomes Second-Largest DeFi Network The report reveals a staggering 213% quarter-over-quarter (QoQ) growth in Chain GDP—essentially the total app revenue generated on the Solana network—rising from $268 million in Q3 to an impressive $840 million in Q4. November stood out as the most lucrative month, contributing $367 million to the ecosystem. Related....