On October 24, the real economic value of Solana was 4 times that of Ethereum.
The 3 memecoins with the highest capitalization on Solana exceed USD 5 billion.
On October 19, 2024, the real economic value of the Solana (SOL) network exceeded that of Ethereum (ETH), according to a report on-chain from Blockworks Research.
On October 24, the real economic value of Solana, composed of the sum of transaction fees paid by users, reached the 11,000,000 dollars, which represented his historical maximum value. In turn, this figure was almost 4 times higher than that of Ethereum with 3,800,000 dollars.
In addition to transaction commissions, to obtain this real value, MVE tips are also considered (Maximum Extractable Value). These tips are offered by users to validators so that their Transactions are completed with priority over others.
Solana memecoins continue doing their job
One of the main arguments that would explain this rise in the economic value of the Solana network may be the recent explosive growth seen by the memecoins.
Although Solana since the launch of its star application Pump.fun for the creation of these tokens (launched in February 2024) gained great relevance in this sector, from the end of September to the present this interest accelerated.
One of these memecoins responsible for Solana’s explosive growth would be Moo Deng (MOODENG), the token that represents a hippopotamus.
Depending on the platform CoingeckoMoo Deng, which has been on the market since September 18, 2024, already has a market cap of $225 million. In the last seven days its price grew more than 117%. At the time of this writing the price of this meme coin is 0.2328 dollars.
Secondly, another of the meme that may have pushed Solana to surpass Ethereum in real economic value is Goatseus Maximus (GOAT), which refers to a goat.
This tokenwhich is exchanged in exchanges since October 13, 2024, in the last 7 days its price grew more than 300% and reached a market capitalization of more than $5,000,000.
In addition, among the Solana memes with the highest market capitalization are dogwifhat (WIF), Bonk (BONK) and Popcat (POPCAT), which among the three They gather around $5.5 billion in market capitalization. This is equivalent to almost half of the total of this Solana measure.
As reported by CriptoNoticias, while some of Solana’s narratives are not going through their best moment, interactions with the memecoins They keep this network standing and growing.
Furthermore, on October 12, 2024 the market capitalization of these tokens in the Solana ecosystem exceeded 10 billion dollars for the first time in history.
Today, October 25, now exceeded 11 billionleaving less than 900 million dollars below the Cardano network’s native cryptocurrency, ADA.
