Solana Dwarfs Ethereum with Record-Breaking REV: Details

1 month ago 31208

ARTICLE AD BOX

Alex Dovbnya

Solana has recorded its highest REV to date

Details

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Solana has managed to reach its highest daily REV (real economic value) to date (more than $11 million), according to recent data.

For comparison, all Ethereum layer-2 solutions logged only $280,000 in revenue over the same period of time.

Notably, Solana also recorded its largest gap with the Ethereum blockchain to date (nearly $4 million).

Notable milestones

On Oct. 23, the Solana blockchain recorded a total of 9.4 million transactions, logging a new year-to-date high.

The "Ethereum killer" recently surpassed $6.5 billion in total value locked (TVL), according to blockchain data platform DefiLlama. Jito, Kamino, and Raydium are the top by total value locked. Jupiter and Marinade are also in the top 5.

The native token of Solana is currently in fifth place with a market cap of nearly $81 million. Over the past week, its price has surged by an impressive 11%, vastly outperforming other major cryptocurrencies in the top 10.

Eating Ethereum's lunch

As reported by U.Today, Solana (SOL) also recently reached its highest level against Ethereum (ETH).

Its market dominance currency stands at 3.58% following the most recent price jump.

Meanwhile, Ethereum (ETH) recently hit its lowest level against Bitcoin (BTC) since April 2021.

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at [email protected].