Solana Beats ETH In Profitability For The First Time: What’s Nex
Solana Beats ETH In Profitability For The First Time: What’s Next
Solana's profitability outshines Ethereum, crossing the $2M mark in economic value, while Ethereum sees a post-peak downturn due to the EIP-4844 rollout.
Post-event optimism has fueled investor confidence, casting the $200 threshold as the new benchmark for Solana's ascent.
Solana has surpassed Ethereum in terms of profitability for the very first time. As per Leon Waidmann who is a popular on-chain analyst highlighted that Solana recently eclipsed Ethereum in daily economic value.
He further added that the analysis does not include Ethereum's role as a medium of exchange and energy source on its various Layer 2 (L2) solutions.
<blockquote class="twitter-tweet"><p lang="zxx" dir="ltr"><a href="https://t.co/urNwqucfEv">https://t.co/urNwqucfEv</a></p>— Leon Waidmann | On-Chain Insights🔍 (@LeonWaidmann) <a href="https://twitter.com/LeonWaidmann/status/1790604787836391471?ref_src=twsrc%5Etfw">May 15, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
This development underscores Solana's escalating influence within the blockchain sphere and suggests a possible shift in the dominance among top blockchain platforms.
Let's delve into the implications of Solana's remarkable progress and its potential effects on the future valuation of SOLNA crypto.
The Tectonic Shift in Blockchain: Solana's Emergence
A detailed examination of Solana and Ethereum's economic values revealed that from February to May 2024, Ethereum's economic value soared to 40M before experiencing a decline, eventually leveling out between $10M and $15M.
In contrast, Solana demonstrated a consistent upward trajectory, ultimately eclipsing Ethereum with an economic value slightly above $2M by May 12, signifying a pivotal shift in the blockchain landscape.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">For the first time ever, <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw">@solana</a> has recently eclipsed <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw">@ethereum</a> in daily economic value or "revenue" for Boomers.<br><br>Friendly reminder that <a href="https://twitter.com/search?q=%24SOL&src=ctag&ref_src=twsrc%5Etfw">
SOL
</a> is currently 1/5th the value of <a href="https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw">
ETH
</a>. <a href="https://t.co/darZVOXDYz">pic.twitter.com/darZVOXDYz</a></p>— ◢ J◎e McCann 🧊 (@joemccann) <a href="https://twitter.com/joemccann/status/1790487134752895483?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
The term "total economic value" encapsulates the aggregate value of all network transactions over a given timeframe, encompassing transfers, trades, and smart contract engagements, thereby serving as a barometer for the blockchain's comprehensive activity and practicality.
Moreover, Solana's capacity to process thousands of transactions per second (TPS) at a substantially lower cost than Ethereum has rendered it a preferred platform for various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). This increase in utilization and adoption has played a crucial role in Solana's landmark accomplishment.
Investors Fueled Confidence: Can Solana Eye $200 As Next Milestone?
At the time of writing, Solana had reported a positive development of 7.07% intraday, surpassing the 50-day exponential moving average. Despite this gain, it remains within bearish zones. The immediate resistance is at the $160 mark, and overcoming this could pave the way to further gains, potentially reaching $175 and the significant $200 milestone.
Should Solana break past the $160 resistance, it could signal the conclusion of its corrective trend, potentially initiating a bullish phase that might lead to a new high for the year. Nonetheless, a broader market rally would be essential to sustain this upward momentum.
Solana's profitability outshines Ethereum, crossing the $2M mark in economic value, while Ethereum sees a post-peak downturn due to the EIP-4844 rollout.
Post-event optimism has fueled investor confidence, casting the $200 threshold as the new benchmark for Solana's ascent.
Solana has surpassed Ethereum in terms of profitability for the very first time. As per Leon Waidmann who is a popular on-chain analyst highlighted that Solana recently eclipsed Ethereum in daily economic value.
He further added that the analysis does not include Ethereum's role as a medium of exchange and energy source on its various Layer 2 (L2) solutions.
<blockquote class="twitter-tweet"><p lang="zxx" dir="ltr"><a href="https://t.co/urNwqucfEv">https://t.co/urNwqucfEv</a></p>— Leon Waidmann | On-Chain Insights🔍 (@LeonWaidmann) <a href="https://twitter.com/LeonWaidmann/status/1790604787836391471?ref_src=twsrc%5Etfw">May 15, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
This development underscores Solana's escalating influence within the blockchain sphere and suggests a possible shift in the dominance among top blockchain platforms.
Let's delve into the implications of Solana's remarkable progress and its potential effects on the future valuation of SOLNA crypto.
The Tectonic Shift in Blockchain: Solana's Emergence
A detailed examination of Solana and Ethereum's economic values revealed that from February to May 2024, Ethereum's economic value soared to 40M before experiencing a decline, eventually leveling out between $10M and $15M.
In contrast, Solana demonstrated a consistent upward trajectory, ultimately eclipsing Ethereum with an economic value slightly above $2M by May 12, signifying a pivotal shift in the blockchain landscape.
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">For the first time ever, <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw">@solana</a> has recently eclipsed <a href="https://twitter.com/ethereum?ref_src=twsrc%5Etfw">@ethereum</a> in daily economic value or "revenue" for Boomers.<br><br>Friendly reminder that <a href="https://twitter.com/search?q=%24SOL&src=ctag&ref_src=twsrc%5Etfw">
SOL
</a> is currently 1/5th the value of <a href="https://twitter.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw">
ETH
</a>. <a href="https://t.co/darZVOXDYz">pic.twitter.com/darZVOXDYz</a></p>— ◢ J◎e McCann 🧊 (@joemccann) <a href="https://twitter.com/joemccann/status/1790487134752895483?ref_src=twsrc%5Etfw">May 14, 2024</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> The term "total economic value" encapsulates the aggregate value of all network transactions over a given timeframe, encompassing transfers, trades, and smart contract engagements, thereby serving as a barometer for the blockchain's comprehensive activity and practicality.
Moreover, Solana's capacity to process thousands of transactions per second (TPS) at a substantially lower cost than Ethereum has rendered it a preferred platform for various applications, including decentralized finance (DeFi), non-fungible tokens (NFTs), and decentralized applications (dApps). This increase in utilization and adoption has played a crucial role in Solana's landmark accomplishment.
Investors Fueled Confidence: Can Solana Eye $200 As Next Milestone?
At the time of writing, Solana had reported a positive development of 7.07% intraday, surpassing the 50-day exponential moving average. Despite this gain, it remains within bearish zones. The immediate resistance is at the $160 mark, and overcoming this could pave the way to further gains, potentially reaching $175 and the significant $200 milestone.
Should Solana break past the $160 resistance, it could signal the conclusion of its corrective trend, potentially initiating a bullish phase that might lead to a new high for the year. Nonetheless, a broader market rally would be essential to sustain this upward momentum.