Ethereum's High Gas Fees and Solana's Jito Mempool Suspension Highlight Crypto Risks

The cryptocurrency ecosystems of Ethereum and Solana have been under scrutiny due to their gas fees and vulnerabilities respectively. Ethereum transactions, totaling 287k at an average gas fee of $60, led to a total of $17 million extracted from traders, in stark contrast to Solana's 6.37m transactions at a $0.01 average gas fee, amounting to $63k. Solana's decentralized exchange, Jito, experienced a peak in tip revenue, reaching 9.32k SOL ($1.2 million) on March 6. However, the platform faced challenges with a fake tip vulnerability exploited by MEV bots, leading to a decision by Jito Labs to disable its mempool functionality to mitigate sandwich attacks. This move came after at least 50k $SOL was extracted from Solana users through MEV in just the previous week, with an annualized projection suggesting figures could be much higher. Additionally, a notable MEV bot on Solana reportedly made $678k in 24 hours before the suspension of Jito's mempool.