Solana Fees Up by 2,800% in Six Months, Data Says

In 2023, Solana (SOL) was the flawless toting out blockchain in several parts. Boosting from Q3, creators, consumers and also financiers were returning to the blockchain that broke unshackle from FTX/Alameda ties.

Solana’s behavior fee rocketing: Study digits

The behavior USD-denominated fee per purchase on the Solana (SOL) blockchain soared substantially between August 2023 and also February 2024. The crucial network capability indicator climbed from $0.001 to $0.03, printing an almost 30x boom.

The file by Power Your Horribly own Study universities-focused tracker was reciprocatory by Ethereum (ETH) veteran Toghrul Maharramov, a researcher in the Scroll L2 blockchain.

Throughout the really same duration, the price of Solana (SOL), the core indigenous asset of the blockchain, rallied from $19 to $120. SOL yet over again became a top three altcoin by field cap (running away out stablecoins), lone surpassed by Ethereum (ETH) and also Binance Coin (BNB).

As encased by U.Today previously, several anecdotes took off on the Solana (SOL) blockchain in the last months. Meme coins on Solana (SOL) stole all headings in January complying with Bonk (BONK) and also Dogwifhat (WIF) apexes.

Bonk (BONK) sticks approximately the thirdly-largest meme coin via a $733 million capitalization.

Solana’s Yakovenko on costs characteristics: “Pretty funky”

Previously, in December 2023, Solana (SOL) was entertained by an airdrop mania. The blockchain’s prearranged DEX Jupiter (JUP) even eclipsed Uniswap (UNI) by trading allocation.

At the really same time, Solana’s founder Anatoly Yakovenko is idealistic about the statistics of costs on the blockchain:

Pretty funky because behavior price per tx was still a portion of a dime

Solana’s SOL is matching hands at $102 on prearranged place CEXes, being up by 0.2% in the last 24 hours.