Solana’s Transaction Fees: The Shocking Truth You Won’t Believe!

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So, here we are, folks. According to some fancy on-chain data platform called Glassnode, Solana has been out there strutting its stuff, with its seven-day average transaction fees leaving Ethereum in the dust since January 9. I mean, can you believe it? It’s like watching a tortoise beat a hare, but the tortoise is wearing a flashy jacket and the hare is just sitting there, scratching its head. 🐢💨

#Solana’s 7-day average transaction fees have outpaced #Ethereum’s since January 9. While $SOL‘s dominance has weakened in February, the weekly difference remains above $3M, indicating sustained relative strength over $ETH.

— glassnode (@glassnode) February 14, 2025

Now, sure, Solana’s fees took a little dip in February, but hey, it’s still raking in over $3 million more than Ethereum. That’s like finding a $20 bill in your coat pocket after a long winter. You’re happy, but also a little confused about how it got there. 💸

And let’s not forget, Solana’s lower fees and higher throughput are like a magnet for developers and users. It’s like a party where everyone’s invited, and Ethereum is stuck outside, wondering why it didn’t bring enough chips. 🎉

Speaking of parties, Solana’s been cashing in big time. It’s made $31.52 million in revenue this February, while Ethereum is sitting at a measly $18.23 million. In January, Solana was popping off with $124 million, while Ethereum was just a little behind at $109 million. It’s like watching your friend win the lottery while you’re still trying to find a quarter for the vending machine. 🍕

Now, the SOL-ETH ratio peaked at 0.093 in January, but it’s dropped to around 0.073. It’s like a rollercoaster ride that you didn’t really want to be on, but here we are. 🎢

As of now, SOL is up 3.5% in the last 24 hours, sitting pretty at $197, while Ethereum is up 1.6% to $2,702. It’s like watching the underdog take the lead, and you’re just sitting there, popcorn in hand, wondering how this is all going to play out. 🍿

Solana’s recent developments

This week, Franklin Templeton decided to throw Solana into the mix for its $594 million Money Market Fund. I mean, why not? It’s already on Ethereum, Coinbase’s Base, Aptos, and Avalanche. It’s like the blockchain version of “everyone gets a trophy.” 🏆

And guess what? Solana ETF applications are moving up the ladder of SEC review. The SEC is actually asking for public comments on the “Canary Solana Trust.” I can just picture them sitting around, sipping coffee, and thinking, “Maybe we should give these crypto folks a break.” It’s a wild world we live in! ☕️

Market experts are feeling optimistic that SOL and its crypto buddies might finally get their ETFs this year. But let’s be real, the timing is as clear as mud. The SEC seems to be warming up to the idea, which is a nice change from their previous “let’s throw a wet blanket on everything” attitude. 🔥

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2025-02-14 18:48