Solana Reports $4 Billion Inflows, Hits $240; Generates $2.33M in Royalties and $200M in Fees, Surpassing Ethereum

13 posts • GPT (4o mini)

Published Nov 28, 2024, 03:42 PM

In a significant development for the cryptocurrency market, Solana has reported inflows of $4 billion from other blockchain networks over the past year, surpassing Ethereum's inflows by $3 billion. This surge in capital has coincided with Solana's price reaching $240, marking a notable milestone. Additionally, Solana generated $2.33 million in royalties over the last 30 days, outpacing all other chains combined. In terms of protocol fees, Solana's Raydium, Jito, and Solana protocols have collectively surpassed Ethereum for the first time, with Raydium alone generating a record-breaking $200 million in fees during the same period. Meanwhile, Ethereum has also seen positive momentum, hitting a five-month high of $3,630. The broader crypto market is experiencing a bullish trend, with major cryptocurrencies like Bitcoin and Ethereum showing gains of 2% and 6%, respectively.

More breaking stories on DeepNewz — updated live.