Solana Surpasses Ethereum in Daily Fees for 7 Days, Generating $70 Million

Solana has surpassed Ethereum in daily fees for seven consecutive days, driven by a surge in activity linked to a memecoin frenzy. The blockchain generated $70 million in fees last week, with half of these fees ($35 million) being returned to SOL holders through token burns.

This marks a record-breaking achievement for Solana, reflecting its growing adoption and ecosystem development. Notable applications like Moonshot, which integrates Apple Pay onramps, and Pump.fun, have contributed significantly to this activity, with over 40,000 launches.

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