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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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  • Blockchain
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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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Home Web 3

Ethereum vs. Solana (Round 5,697) 🥊

August 5, 2024
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Ethereum vs. Solana (Round 5,697) 🥊
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TL;DR

Full Story

July is officially over (can you believe it??) which means we can now take a backwards look at what happened in the crypto markets last month.

Today we’re going to focus on a battle that’s as old as t…

Well it’s actually only a bit over four years old – but in crypto years, that’s a long time.

We’re talking about Ethereum vs. Solana!

(Specifically, the amount of usage of DEX’s built on Ethereum compared to those built in Solana).

For the first time ever, Solana beat out Ethereum in terms of overall trading volume for the month (see header image 👆).

Which is interesting in itself – but what’s more interesting is why this might be the case.

Ultimately it comes down to three main things:

  1. Branding! Seriously, if Twitter is anything to go by, the number of times we’ve heard people talking about Solana as a ‘fun’ blockchain to build on is straight up weird.

  2. Meme coins. The undisputed champion of the current cycle’s narrative so far are meme coins.

    Those developed on the cheaper blockchain options (Solana and Base) have blown up, while classic NFT projects like Bored Apes built on Ethereum have tumbled in value and trade volume.

  3. Finally: cost, community and creativity. The more the web3 industry matures, the less people seem to be willing to spend money on gas fees.

    Solana is not only 100-1000 times cheaper for gas (transaction) fees over Ethereum (depending on network congestion), these days Solana really doesn’t have any less functionality than Ethereum either.

    Plus, the way Solana has bridged the gap between the developer community and the users is something to admire.

See also  Self-Sovereign Identity (SSI) Market Future Prediction Report By 2032

While this seems like an ad for the Solana blockchain – it’s not!

Both Ethereum and Solana have their unique place in the web3 ecosystem.

But data don’t lie!

And based on the current trajectory, when we extrapolate this data out a few weeks, months or years, it looks like Ethereum could be in for a rough ride.

Let’s see how things pan out!

Tags: EthereumSolana

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Memecoin Project Obama6900 (OBX) Joins the Fight Against Malaria with Long-Lasting Insecticidal Nets (LLINs)

October 28, 2023
Tezos 2023 Outlook: An Overview of Tezos (XTZ)

Tezos 2023 Outlook: An Overview of Tezos (XTZ)

November 2, 2023
UK risks regulating NFTs the wrong way, says Mintable CEO

UK risks regulating NFTs the wrong way, says Mintable CEO

October 30, 2023
How to Earn Keys to Boost Your HMSTR Airdrop

How to Earn Keys to Boost Your HMSTR Airdrop

September 10, 2024
Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

August 3, 2024

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EDITOR'S PICK

Cardano ($ADA) On-Chain Transaction Volume Has Surged Over 1,700% Since January, Data Shows

Cardano ($ADA) On-Chain Transaction Volume Has Surged Over 1,700% Since January, Data Shows

October 12, 2023
Ethereum To $20K? Investor Says Real-World Adoption Is The Key

Ethereum To $20K? Investor Says Real-World Adoption Is The Key

March 31, 2025
Why is Ethereum down below $3000 today? Whales, liquidations, and more…

Why is Ethereum down below $3000 today? Whales, liquidations, and more…

July 5, 2024
Will ongoing memecoin mania lead to a new ‘asset class’?

Will ongoing memecoin mania lead to a new ‘asset class’?

May 9, 2024

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