Solana (SOL) Experienced a Major Pullback in This Area! Lost Its Place to These Two Altcoins!

Solana (SOL), Litecoin (LTC), and Hedera (HBAR) made their US debuts, and the anticipated ETFs have begun ￰0￱ Solana has had great success with ETFs, it has lagged behind in another ￰1￱ to The Block, Solana's share of L1 fees has fallen to single ￰2￱ this point, Hyperliquid (HYPE) and BNB Chain have attracted investor attention this year by increasing their share of the large Layer 1 (L1) fee ￰3￱ contrast, Solana's share of the main Tier 1 network fees fell from over 50% at the beginning of the year to just 9%. In the face of the fading decline, Hyperliquid's share rose to over 40%, while BNB Chain's share rose to around 20%. This shift has been attributed to multiple factors, including market demand, user preferences, and structural ￰4￱ decline in Solana’s fee revenue was primarily attributed to the decline in memecoin trading on the ￰5￱ suggests that the memecoin trading frenzy on Solana decreased sharply following the launch of the ‘TRUMP’ token earlier this year, which was the primary driver of the revenue ￰6￱ trading once accounted for the majority of the Solana network's fee revenue, but activity has since declined significantly, reducing network ￰7￱ contrast, Hyperliquid and BNB Chain rapidly increased their fee share by strengthening their revenue structures focused on derivatives ￰8￱ derivatives trading generates higher fee revenue per transaction unit than memecoin trading, even a relatively small increase in user numbers led to a large increase in network revenue share. *This is not investment ￰9￱ Reading: Solana (SOL) Experienced a Major Pullback in This Area!

Lost Its Place to These Two Altcoins!