Solana apps accounted for 73.3% of all crypto app earnings in a single day, surpassing Binance Smart Chain and Ethereum. Solana's app revenues have been consistently high since the second half of 2024. In the past seven days, Solana's app revenue also exceeded Ethereum's. Solana-based apps generated about $8.9 million in the last 24 hours, almost double the revenue of Ethereum-based apps. Solana's high revenue generation is attributed to conducting all activities directly on its Layer 1 blockchain. In the last quarter of 2024, Solana apps generated $751 million in revenues, surpassing Ethereum. However, Ethereum led in revenue generation for the whole of 2024. Solana's DEX volumes are also significantly higher than other networks. The recent launch of the TRUMP memecoin on Solana contributed to its all-time high trading volume. Solana's social mentions have reached a daily all-time high, indicating increased interest and potential price growth. Despite recent volatility, SOL's trading chart suggests a potential bullish recovery. However, analysts warn that if demand from recently launched tokens subsides, SOL could face spontaneous price corrections.



Other News from Today