Solana’s $8.4M Daily Revenue Outpaces Ethereum as $1.3B Apollo Fund Chooses Network
Solana (SOL) keeps surpassing big blockchain networks in income generating in a remarkable show of sustained growth, and thanks to substantial advancements in tokenized finance she also attracts institutional interest.
Supported by both retail activity and institutional acceptance, recent statistics and market moves point to the network moving into a new phase of maturity.
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Solanaβs Revenue Generation Leads Over Ethereum
With Solana generating nearly $8.4 million in income on February 9, compared to Ethereumβs $875,571, latest statistics from DefiLlama shows that Solanaβs revenue generating has kept its remarkable advantage over Ethereum. Even with Layer-2 scaling solutions for Ethereum, which host large trade volumes, this performance disparity is still noteworthy.
Solanaβs income domination is especially remarkable given her much smaller total value locked (TVL) of $9.5 billion as compared to Ethereumβs $56.8 billion. This difference implies very effective use of capital inside the Solana ecosystem.
Solana Ecosystem Development and Revenue Growth
Increased memecoin trading activity is mostly responsible for the revenue explosion of the network; platforms like Pump.fun have seen significant development. With Pump.fun alone bringing $235 million in quarterly income, Messari claims Solanaβs total app revenue rose by 213% in Q4 2024.
Though some may consider memecoin trade as speculative, crypto researcher Aylo contends that this behavior offers βa baseline of solid metrics that supports SOLβs valuation.β Said to be adding 5 million new wallet addresses per day, the network is also seeing more general acceptance.
Solanaβs Institutional Adoption Accelerates
In a historic first, Apollo Global Management in association with Securitize and Wormhole has revealed the tokenization of their $1.3 billion Apollo Diversified Credit Fund (ACRED) on several blockchains, including Solana. This action shows a noteworthy faith in Solanaβs infrastructure for institutional-grade financial operations.
By combining Solanaβs blockchain with traditional finance via ACREDβs tokenization, future institutional acceptance may be established standard by this approach. Solanaβs low-cost, fast-paced network seems to be drawing conventional finance players trying to update their processes using blockchain technologies.
SOL/USD Technical Analysis
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Solanaβs SOL/USD price has showed durability, keeping support above the vital $190 mark. Technical analysts see $199 as a crucial resistance level that, if maintained, would indicate even more increasing momentum. With RSI of 43.77 right now, the bitcoin shows opportunity for development even with recent increases.
With significant asset managers including Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital having applied for Solana spot ETFs by the end of 2024, market data points rising institutional interest. Depending on keeping present support levels, VanEck has projected possible price goals of $520 in the next market cycle.
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