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

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

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    NFT Sales Spike in July—but Still Miles Below 2024’s Highs

    Ethereum Collections Lead NFT Sales Today

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    how NFTs became a global brand and a Web3 “social currency”

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    CryptoPunks Floor Price Hits 3-Year High of $208,000

    NFT sales surge to $574 million in July, second-highest in 2025

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    Cracking China’s Blockchain Gaming Market: Why Shrapnel Chose GalaChain

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    Shrapnel to Leave Avalanche in New Partnership with Gala Games

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    Google to Pit Top AI Models Against Each Other in Live Chess Tournament

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

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

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

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

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    Bitcoin Miner Bit Digital Diversifies Into AI for ‘Substantially Higher Margin’ Than Mining

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    What Is Copy Trading in Crypto? A Beginner’s Guide

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    What Is Crypto Staking? How to Earn Crypto by Holding It

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  • Analysis
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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Altcoins

Solana beats Ethereum in key areas: Are investors turning away from ETH?

May 10, 2024
in Altcoins
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Solana beats Ethereum in key areas: Are investors turning away from ETH?
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  • Solana outperformed Ethereum in terms of fees paid out to validators.
  • Usage on the Ethereum network declined, as the price of ETH fell.

The popularity of the Solana [SOL] network has helped it attract a large number of users, due to which an increase in activity on the network was observed.

Gas is paid

Due to the rising activity on the network, the fees paid out to validators on the Solana network had grown.

Ethereum [ETH] has long been the dominant player in the smart contract platform space. Solana’s rise in popularity, especially if its fees remain competitive with Ethereum’s, could chip away at Ethereum’s market share.

This weakens Ethereum’s position as the go-to blockchain for developers and users.

Source: Artemis

The state of the Ethereum network has also been dire. Over the last month, the number of daily active addresses on the Ethereum network had declined significantly.

According to Token Terminal, the number of daily active users on the network fell by 2.9% in the last 30 days.

Moreover, the average revenue generated by the network also declined significantly by 81.6% during this period.

Source: Token Terminal

The NFT trades on the Ethereum network also declined significantly over the last month.

The popularity of NFTs from alternative chains such as Bitcoin [BTC] and Solana [SOL] may be grabbing a good chunk of the Ethereum network.

Source: Santiment

ETH failed to fare well in terms of price as well. Since the 8th of April, its price fell considerably, exhibiting multiple lower lows and lower highs, indicative of a bearish trend.

See also  Can Ethereum whales push ETH to $4k in March?

Coupled with that, the CMF (Chaikin Money Flow) for Ethereum fell significantly to -0.21 during this period. This meant that the money flowing into ETH had declined significantly in the last few days.

The RSI (Relative Strength Index) for Ethereum also declined during this period, implying that momentum was with the bears at the time of writing.

Source: Trading View


Read Ethereum’s [ETH] Price Prediction 2024-25


New addresses grow

Coupled with that, the velocity of ETH had fallen, indicating a reduced frequency of trades. In contrast to this, the overall network growth of ETH grew significantly.

This meant that new addresses continued to show interest in the ETH token.

Source: Santiment

Next: Bitcoin to $265K? Reasons why this price prediction can come true

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

  • Solana outperformed Ethereum in terms of fees paid out to validators.
  • Usage on the Ethereum network declined, as the price of ETH fell.

The popularity of the Solana [SOL] network has helped it attract a large number of users, due to which an increase in activity on the network was observed.

Gas is paid

Due to the rising activity on the network, the fees paid out to validators on the Solana network had grown.

Ethereum [ETH] has long been the dominant player in the smart contract platform space. Solana’s rise in popularity, especially if its fees remain competitive with Ethereum’s, could chip away at Ethereum’s market share.

See also  Ethereum Could Be Mirroring Bitcoin's 2018-2021 Cycle Amid Record Selling

This weakens Ethereum’s position as the go-to blockchain for developers and users.

Source: Artemis

The state of the Ethereum network has also been dire. Over the last month, the number of daily active addresses on the Ethereum network had declined significantly.

According to Token Terminal, the number of daily active users on the network fell by 2.9% in the last 30 days.

Moreover, the average revenue generated by the network also declined significantly by 81.6% during this period.

Source: Token Terminal

The NFT trades on the Ethereum network also declined significantly over the last month.

The popularity of NFTs from alternative chains such as Bitcoin [BTC] and Solana [SOL] may be grabbing a good chunk of the Ethereum network.

Source: Santiment

ETH failed to fare well in terms of price as well. Since the 8th of April, its price fell considerably, exhibiting multiple lower lows and lower highs, indicative of a bearish trend.

Coupled with that, the CMF (Chaikin Money Flow) for Ethereum fell significantly to -0.21 during this period. This meant that the money flowing into ETH had declined significantly in the last few days.

The RSI (Relative Strength Index) for Ethereum also declined during this period, implying that momentum was with the bears at the time of writing.

Source: Trading View


Read Ethereum’s [ETH] Price Prediction 2024-25


New addresses grow

Coupled with that, the velocity of ETH had fallen, indicating a reduced frequency of trades. In contrast to this, the overall network growth of ETH grew significantly.

This meant that new addresses continued to show interest in the ETH token.

Source: Santiment

Next: Bitcoin to $265K? Reasons why this price prediction can come true
Tags: areasBeatsETHEthereumInvestorskeySolanaTurning

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