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On-chain analyst Leon Waidmann reveals that Solana has surpassed Ethereum in profitability, marking a significant milestone in the crypto space.
Introduction
Ethereum’s economic value peaked at $40 million in late February, but has since declined due to factors like the launch of EIP-4844 and increased activity on Layer 2 networks. In contrast, Solana has outperformed Ethereum in terms of profitability, as highlighted by Leon Waidmann’s analysis.
Main Points
Leon Waidmann shared data comparing the economic value from transaction fees and MEV of Solana and Ethereum. While Ethereum’s value declined to under $2 million by May 12, Solana surpassed Ethereum with over $2 million, showcasing a trend of steady growth.
Solana’s peak value was initially lower than Ethereum’s but steadily increased throughout March and April, stabilizing at a higher level by May 12. This achievement indicates a shift in profitability dynamics within the crypto market.
Industry experts like Toghrul Maharramov and Emmanuel Awosika have provided insights into the reasons behind Ethereum’s decline and the implications of Solana’s rise. Factors such as the impact of EIP-4844 and the importance of native tokens in rollup scaling have been highlighted as contributing to these developments.
Conclusion
The comparison between Solana and Ethereum’s profitability underscores the evolving landscape of the crypto industry. Solana’s ascendancy in economic value signifies a potential shift in market dynamics, prompting further analysis and discussion among industry experts and enthusiasts.
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