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Solana has outperformed Ethereum in terms of total economic value generated in a single day for the first time in history on May 12, according to Blockworks Research. This milestone includes surpassing Ethereum in transaction fees and MEV (Miner Extractable Value). Additionally, Solana has flipped Tron and Bitcoin in 24-hour revenue generation. The SOL/ETH pair is currently at its all-time high, reflecting Solana's growing dominance with a 342% increase over the past year. Despite this achievement, it is important to note that the comparison only includes Ethereum's mainchain, not accounting for Ethereum's broader value as a payment method and fuel for decentralized applications. Solana is also noted for being more user friendly and has seen a 20x increase in value.
ETH is in between a rock and a hard place this cycle. It's not sound money, and it's not the best smart contract platform. There's no defensible narrative. That's why ETH/BTC has been down only for the last 2 years. That's why SOL/ETH is up 10x from cycle lows. https://t.co/b3NfR5LY4Z
🎉 @solana overtook Ethereum by daily revenue for the first time. But users are paying heavy fees to transact. Average fees on Solana are significantly higher than on Ethereum's leading L2s. Do you think Solana will flip Ethereum? Let us know below! 👇 https://t.co/bfHbPQRKeV
ETH/BTC pair hasn’t been this low since April 2021. SOL/ETH pair is sitting at its ATH. Solana has more daily active addresses than ETH while being cheaper and more user friendly It can’t be anymore obvious that Ethereum is dying and Solana is taking its place
