Solana (SOL), Litecoin (LTC), and Hedera (HBAR) made their US debuts, and the anticipated ETFs absorb begun buying and selling.
Whereas Solana has had mammoth success with ETFs, it has lagged within the support of in yet every other dwelling.
In accordance with The Block, Solana’s share of L1 prices has fallen to single digits.
At this level, Hyperliquid (HYPE) and BNB Chain absorb attracted investor consideration this yr by growing their share of the plentiful Layer 1 (L1) fee market.
In distinction, Solana’s share of the principal Tier 1 network prices fell from over 50% on the starting of the yr to lawful 9%.
Within the face of the fading decline, Hyperliquid’s share rose to over 40%, whereas BNB Chain’s share rose to around 20%.
This shift has been attributed to more than one elements, collectively with market ask of, user preferences, and structural adjustments.
The decline in Solana’s fee income used to be basically attributed to the decline in memecoin buying and selling on the network. Recordsdata suggests that the memecoin buying and selling frenzy on Solana reduced sharply following the originate of the ‘TRUMP’ token earlier this yr, which used to be the principal driver of the income decline.
Memecoin buying and selling as soon as accounted for nearly the total Solana network’s fee income, but exercise has since declined tremendously, reducing network online page online online page online visitors.
In distinction, Hyperliquid and BNB Chain swiftly elevated their fee share by strengthening their income buildings targeted on derivatives buying and selling. As a consequence of derivatives buying and selling generates bigger fee income per transaction unit than memecoin buying and selling, even a fairly minute enlarge in user numbers led to a plentiful enlarge in network income share.
*Here isn’t very funding advice.
