As a seasoned crypto investor with a knack for spotting opportunities and a penchant for blockchain networks that deliver, I find these recent developments particularly intriguing. The fact that Raydium, a Solana-based DEX, outperformed Ethereum in daily revenue is more than just a blip on the radar.
On October 21st, the Decentralized Exchange (DEX), Raydium, surpassed the Ethereum network in daily earnings as reported by DefiLlama.
On a given day, the decentralized finance platform Raydium, operating on the Solana blockchain, generated approximately $3.4 million in fee earnings, surpassing Ethereum’s daily fee revenue of around $3.35 million, as reported by DefiLlama regarding protocol fees.
As a crypto investor, I’ve observed that Ethereum is currently on its path to recovery following a significant decline in earnings post the network’s March Denascan update. This update notably reduced transaction fees by about 95%, which has undeniably impacted our investment returns.
Despite Ethereum outperforming other blockchain networks, including Solana, there are instances where it lags behind platforms like Raydium in terms of certain protocols.
Related: Pump.fun flips Ethereum in 24-hour revenue generation — DefiLlama
Raydium, a decentralized exchange, stands out as the top choice and the one with the highest liquidity on the Solana network. As per information from DefiLlama, it holds around $1.8 billion in total assets secured (TVL).
On October 21st, Solana’s earnings amounted to approximately $2.67 million, which was slightly less than Ethereum’s revenue for that timeframe, according to the data available.
On July 29th, the Solana-based meme token creation tool known as Pump.fun generated more daily earnings than Ethereum, based on data provided by DefiLlama.
That was not the first time Pump.fun’s revenue eclipsed Ethereum’s.
On the 30th of June, the meme coin platform achieved a record 24-hour income of close to $2 million, narrowly exceeding Ethereum’s $1.91 million earnings within the same timeframe.
As a research analyst focusing on digital assets, I noted in September that since its launch in 2015, Ethereum has amassed approximately $3 billion in transaction fees, denominated in Ether.
As a crypto investor, I’ve noticed that Ethereum (ETH) has unique value accumulation strategies. For instance, a part of the transaction fees is permanently withdrawn from circulation, a process known as “burning”. On the other hand, new ETH is issued to reward stakers, individuals who lock up their ETH to maintain the network’s security.
By 2030, Sigel anticipates that the Ethereum network could produce an estimated annual free cash flow of up to $66 billion, potentially pushing the value of each Ether token to reach as much as $22,000.
His assessment relies on the expected benefits that Ethereum users (ETH holders) will receive, since Ethereum is handling an increasingly large share of global transactions.
Over the past year, Ethereum handled approximately four trillion dollars in settlement transactions, and an additional five trillion dollars in stablecoin transfers each year. This volume is significantly larger than that of PayPal and is quickly approaching the scale of financial giants like Visa, as stated by Sigel.
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2024-10-22 20:46