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On-chain analyst Leon Weidman revealed that Solana has surpassed Ethereum in profitability, marking an important milestone in the cryptocurrency space.
introduction
Ethereum’s economic value peaked at $40 million in late February, but has since declined due to factors such as the launch of EIP-4844 and increased activity on the Layer 2 network. In contrast, Solana has outperformed Ethereum in terms of profitability, as highlighted in Leon Weidman's analysis.
Main points
Leon Waidmann shared data comparing Solana and Ethereum transaction fees and economic value from MEV. While Ethereum's value fell to less than $2 million by May 12, Solana surpassed Ethereum by more than $2 million, showing a steady growth trend.
Solana’s peak value was initially lower than Ethereum, but it steadily increased from March to April and stabilized at a higher level by May 12th. This performance indicates a change in revenue dynamics in the cryptocurrency market.
Industry experts like Togurul Maharamov and Emmanuel Awosika offer insight into the reasons behind Ethereum's decline and the impact of Solana's rise. Factors such as the influence of EIP-4844 and the importance of native he tokens in roll-up scaling are highlighted as contributing to these developments.
conclusion
Comparing the profitability of Solana and Ethereum highlights the evolving landscape of the cryptocurrency industry. Solana's superior economic value signals a potential change in market dynamics, prompting further analysis and discussion among industry experts and enthusiasts.
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