Dollar-denominated Solana fees rise 2,800% in six months
Since the third quarter of last year, Solana has gradually overcome the impact of the bankruptcy of FTX/Alameda. Toghrul Maharramov, an analyst at Power Your Own Research, shared data showing that the average dollar-denominated cost per transaction on the Solana (SOL) blockchain has skyrocketed from 0.001 USD to 0.03 USD, an increase of nearly 30 times, from August 2023 to February 2024, during which time the SOL price rose from 19 USD to 120 USD. The analysis suggests that the growth in fee revenue on the Solana chain may be related to previous airdrop activities such as Jupiter, and Solana co-founder Anatoly Yakovenko remains optimistic about the growth in fee revenue on the blockchain.
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