Solana’s daily fees and revenue hit ATH amid heightened engagement

exchange683 hours ago

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Solana’s daily revenue hit a record high of almost $4 million, reflecting a notable rise in user engagement on the third-largest blockchain network by market cap.

DeFillama data shows that Solana earned $3.81 million in revenue over the past 24 hours, with network participants paying $7.63 million in transaction fees.

Solana Revenue and Fees (Source: DeFillama)

Further insights from Blockworks Research reveal that Solana achieved an all-time high of $14.3 million in real economic value (REV) on Nov. 13. REV includes transaction fees along with Maximum Extractable Value (MEV) tips, which are crucial revenue sources for the chain and its validators, supporting network security.

Solana Real Economic Value. (Source: Blockworks Research)

The revenue surge stems from rising demand for Jito tips and priority fees. With the rise of memecoin trading platforms like Pump.fun, traders compete to secure faster transactions by paying additional fees. This means that validators can prioritize these high-value transactions and accelerate their processing, which would inadvertently drive further activity on the network.

Analyst

Oluwapelumi Adejumo

Journalist at CryptoSlate

Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.

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