Solana could surpass Ethereum in transaction fees soon, challenging its “Ethereum-killer” status.
The potential flip could further cement Solana’s status as an “Ethereum-killer,” which has been questioned due to the recent network outages.
Solana could flip Ethereum’s transaction fees as soon as this week, according to Dan Smith, senior research analyst at Blockworks, who wrote in a May 7 XCaptured MEV, or Maximal Extractable Value, refers to profits that are mostly captured through arbitrage trading on the protocols. MEV measures the maximum amount of value that can be extracted from a blockchain by a user or a group of users.
“Defining “total economic value” as total transaction fees + captured MEV returned to validators. Yesterday, Ethereum: $3,165,772, Solana: $2,803,313.”However, Solana’s daily transaction fees are still far from Ethereum’s. Ethereum generated over $2.75 million worth of fees in the past 24 hours, compared to Solana’s $1.49 million, according toLooking at the total value locked , Solana’s $3.94 billion TVL is still a small fraction, or around 7.4% of the Ethereum network’s over $53 billion TVL.
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