Ethereum

Solana

Raydium

Bitcoin

On Oct. 21, decentralized exchange (DEX) Raydium beat the Ethereum network in 24-hour revenue, according to DefiLlama.
Raydium, which is hosted on the Solana blockchain, clocked $3.4 million in fee revenue during the day versus $3.35 million for Ethereum, according to <a data-ct-non-breakable="null" href="https://defillama.com/fees/simple" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://defillama.com/fees/simple">data</a> from DefiLlama on daily revenue from protocol fees.
Ethereum is still recovering from a sharp dropoff in revenue after the network’s March Dencun upgrade cut transaction fees by approximately 95%.&nbsp;
Ethereum still beats other blockchain networks like Solana but has periodically fallen behind protocols such as Raydium.
<figure><img alt="Fees, Decentralized Exchange, Solana, Transaction Fee, Staking" src="https://s3.cointelegraph.com/uploads/2024-10/0192b53f-84c6-7a1d-8a4f-5b2daab103d4" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://defillama.com/fees/simple" rel="noopener noreferrer nofollow" target="_blank" text="null" title="https://defillama.com/fees/simple">DeFiLlama</a>
 </figcaption>
</figure>
<h1 id="em-strong-related-strong-em-a-data-ct-non-breakable-null-href-https-cointelegraph-com-news-pump-fun-flips-ethereum-24-hour-revenue-generation-rel-noopener-noreferrer-nofollow-target-_self-text-null-title-https-cointelegraph-com-news-pump-fun-flips-ethereum-24-hour-revenue-generation-em-strong-pump-fun-flips-ethereum-in-24-hour-revenue-generation-defillama-strong-em-a-br">Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/pump-fun-flips-ethereum-24-hour-revenue-generation" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/pump-fun-flips-ethereum-24-hour-revenue-generation">Pump.fun flips Ethereum in 24-hour revenue generation — DefiLlama</a> </h1>
Raydium is the most popular and liquid DEX on Solana, with approximately $1.8 billion in total value locked (TVL), according to <a data-ct-non-breakable="null" href="https://defillama.com/chain/Solana" rel="noopener noreferrer nofollow" target="null" text="null" title="https://defillama.com/chain/Solana">data</a> from DefiLlama.
Solana generated $2.67 million in revenues on Oct. 21, slightly lagging Ethereum’s earnings for the same period, the data shows.
On July 29, Solana memecoin creation tool Pump.fun surpassed Ethereum in 24-hour revenue, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/pump-fun-flips-ethereum-24-hour-revenue-generation" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/pump-fun-flips-ethereum-24-hour-revenue-generation">according to data from DefiLlama</a>.&nbsp;
That was not the first time Pump.fun’s revenue eclipsed Ethereum’s.
On June 30, the memecoin platform’s 24-hour revenue hit an all-time high of nearly $2 million, slightly surpassing Ethereum’s $1.91 million during the same period.
<figure><img alt="Fees, Decentralized Exchange, Solana, Transaction Fee, Staking" src="https://s3.cointelegraph.com/uploads/2024-10/0192b541-eb19-7b21-8f18-56c2108b2a3a" title="">
 <figcaption style="text-align: center;">
 Source: VanEck
 </figcaption>
</figure>
Since launching in 2015, Ethereum has generated $3 billion in transaction fees (denominated in Ether), Matthew Sigel, VanEck’s head of digital asset research,&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/vaneck-stonex-analysts-ether-price-upside" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/news/vaneck-stonex-analysts-ether-price-upside">said in September.</a>
Other Ether <a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow" target="_self" text="null" title="https://cointelegraph.com/ethereum-price">(ETH)</a> value accrual mechanisms include “burning” — or permanently removing from circulation — a portion of transaction fees and emitting new ETH to reward stakers, who post ETH as collateral to secure the network.<advertisement>
 Sigel expects the Ethereum network to generate up to $66 billion in annual free cash flow by 2030, driving spot ETH’s price as high as $22,000 per token.
 His estimate is based on anticipated value accrual to ETH holders as Ethereum processes a growing portion of the world’s transactions.&nbsp;
 “Ethereum processed roughly $4 trillion in settlement value over the last year and another $5 trillion in stablecoin transfers annually. So this is far bigger than PayPal and is beginning to approach networks like Visa,” Sigel said.
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Raydium beats Ethereum in 24-hour fee revenues

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