Solana Dwarfs Ethereum with Record-Breaking REV: Details

Solana has managed to reach its highest daily REV (real economic value) to date (more than $11 million), according to recent data.

For comparison, all Ethereum layer-2 solutions logged only $280,000 in revenue over the same period of time.

Notably, Solana also recorded its largest gap with the Ethereum blockchain to date (nearly $4 million).

Notable milestones

On Oct. 23, the Solana blockchain recorded a total of 9.4 million transactions, logging a new year-to-date high.

The “Ethereum killer” recently surpassed $6.5 billion in total value locked (TVL), according to blockchain data platform DefiLlama. Jito, Kamino, and Raydium are the top by total value locked. Jupiter and Marinade are also in the top 5.

The native token of Solana is currently in fifth place with a market cap of nearly $81 million. Over the past week, its price has surged by an impressive 11%, vastly outperforming other major cryptocurrencies in the top 10.

Eating Ethereum's lunch

As reported by U.Today, Solana (SOL) also recently reached its highest level against Ethereum (ETH).

Its market dominance currency stands at 3.58% following the most recent price jump.

Meanwhile, Ethereum (ETH) recently hit its lowest level against Bitcoin (BTC) since April 2021.