Solana Blockchain Beats Ethereum On Popularity Quotient
Crypto enthusiasts are boosting activity across blockchain networks, with the eco-friendly Solana blockchain outperforming Ethereum due to the popularity of Solana-based NFTs and memecoins. In the last 24 hours, Solana saw transactions worth $11 billion, with 49.3% of global crypto investor interest.
Solana Labs, founded in 2018, launched Solana in 2020 with a native token priced at $0.22. The token has surged in value, with the SOL token breaching the $200 mark for the first time since its inception. The Solana blockchain has reportedly earned $150 million through the sale of memecoins like Bonk and Slerf.
Transaction fees on Solana have also increased, despite its reputation for having cheaper gas fee charges. Ethereum, which underwent an update called Dencun earlier this year, secured the second rank on CoinGecko’s most popular blockchains list.
(With inputs from Shikha Singh)
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