News

Jito and Solana Outpace Ethereum in 24-Hour Fee Revenue

Key Points:

  • Jito and Solana’s 24-hour fee revenue topped Ethereum’s, showing impressive growth.
  • Jito leads with $2.79M in daily fees, Solana at $2.45M and Ethereum at $2.27M.
  • Over the past week, Jito has secured the #1 spot in protocol fee income, solidifying its place in DeFi.
According to data from SolanaFloor, Jito and Solana’s 24-hour protocol fee income has surpassed Ethereum’s for the third day running, a sign of the rising activity and adoption in the Solana ecosystem.

Jito and Solana Outperform Ethereum in Fee Revenue

Jito’s revenue fee was $2.79 m in 24 hours, closely followed by Solana’s at $2.45 m. In contrast, Ethereum’s fee revenue was $2.27 m in the same period, which shows the shifting sands in the world of decentralized finance.

Data also shows that Jito topped daily fees and protocol income in the last seven days, reflecting consistent growth and demand for its services. That consistent uptick in growth evidences increasing interest in both Jito and Solana protocols, promising high-speed and low-cost transactions; the latter aspect appeals to a big chunk of DeFi market share through improving user experiences.

Read more: Jito Review: Emerging Liquid Staking Protocol With Outstanding Features On Solana

Rising Popularity of Solana-Based Protocols Challenges Ethereum

The fact that Solana has just achieved this milestone vindicates its focus on scalability and, more importantly, low transaction fees. The platform’s underlying structure allows it to process transactions faster and at a cheaper rate compared to Ethereum, another probable reason why it’s gathering traction among budget-conscious developers and users. Jito is an MEV-boosted protocol in the Solana network that brings efficiency in fee generation; thus, it is well-placed to challenge for leading positions in the space.

While Ethereum addresses its highly from high gas fees, the competition between blockchain platforms only gets more contentious. Recent trends in fee revenue indicate that Solana-based projects are pulling their weights to become serious alternatives for decentralized applications and, generally, on-chain financial activities. With the new record by Jito and Solana, one can only expect further developments in protocol fee leadership among leading blockchain networks in the months ahead.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

3,200 Holders Strong: Experts Believe Qubetics Could Be the Best Crypto to Buy Today After Missing ChainLink

If you’re regretting missing that wave, here’s some exciting news: Qubetics ($TICS), with its ongoing…

19 minutes ago

Ethereum Spot ETF Inflows Hit $91.2M After Six-Day Outflow

Ethereum Spot ETF Inflows reached $91.2M on Nov 22, marking the first net inflow in…

4 hours ago

Kraken Token Listing Roadmap Includes 19 New Coins

Kraken Token Listing Roadmap adds 19 tokens like BNB and DYDX, boosting its offerings. Trump’s…

4 hours ago

Qualified Stoner Cats NFT Investors Will Receive $1 Million In Compensation

Investors who held or sold Stoner Cats NFTs before September 2023 are eligible for compensation…

4 hours ago

SEC Commissioner Lizárraga Announces Departure From Agency

SEC Commissioner Lizárraga announces plans to leave in January after Gensler’s exit, focusing on family…

4 hours ago

FTX Liquidator Transfers RAY Worth Millions To Binance

FTX Liquidator Transfers RAY worth $3.79M to Binance Deposit after receiving 1.853M RAY from an…

5 hours ago

This website uses cookies.