Ethereum

2024

Solana

Bitcoin

when

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>Solana network fees reached a new ATH in October above $69 million, surpassing its March high.</li> 
 <li>From the beginning of this year, the total Solana fees are $432 million.</li> 
</ul> 
<p>Solana reached a new ATH in terms of network fees in October, surpassing its previous peak hit this year in March.</p> 
<p>Last month, Solana network fees surpassed $69 million, with the second-biggest month being March when the network recorded over $66 million in fees, according to data from Dune Analytics.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GbxelvjaMAAZr72?format=jpg&amp;name=large" alt="Solana monthly chain fee in USD" width="1546" height="892" title="Solana Network Fees Reached a New ATH Over $69M in October 17">
 <figcaption class="wp-caption-text">
  Solana monthly chain fee in USD
 </figcaption>
</figure> 
<p>The highest day in terms of fees last month was on October 24 at almost $5 million.</p> 
<figure id="attachment_52774" aria-describedby="caption-attachment-52774" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/dune7nov.png"><img loading="lazy" decoding="async" class="wp-image-52774 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/dune7nov.png" alt="Dune data" width="921" height="508" title="Solana Network Fees Reached a New ATH Over $69M in October 18" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/dune7nov.png 921w, https://crypto.ro/en/wp-content/uploads/2024/11/dune7nov-300x165.png 300w, https://crypto.ro/en/wp-content/uploads/2024/11/dune7nov-768x424.png 768w, https://crypto.ro/en/wp-content/uploads/2024/11/dune7nov-750x414.png 750w" sizes="(max-width: 921px) 100vw, 921px"></a>
 <figcaption id="caption-attachment-52774" class="wp-caption-text">
  Dune data
 </figcaption>
</figure> 
<h2 id="other-important-solana-metrics">Other Important Solana Metrics</h2> 
<p>A high number of transaction fees translates into a high number of transactions and active addresses.</p> 
<p><a href="https://dune.com/21co/solana-key-metrics" rel="nofollow noopener" target="_blank">Dune</a> data also shows that as of October 27, the total active addresses on Solana were 2.68 million.</p> 
<p>Solana continues to see increased use, especially thanks to the memecoin frenzy. In the past 24 hours, the Solana memecoins sector saw a surge in market cap of almost 18%, nearing $13 billion, <a href="https://www.coingecko.com/en/categories/solana-meme-coins" rel="nofollow noopener" target="_blank">CoinGecko</a> data shows.</p> 
<p>Also, the 24-hour trading volume surpassed $3.2 billion, according to the same data.</p> 
<h2 id="solana-vs-bitcoin-and-ethereum-network-fees">Solana vs. Bitcoin and Ethereum Network Fees</h2> 
<p>Dune data also shows a comparison between the total fees on the three blockchains and the fees recorded since January 2024 as follows:</p> 
<ul> 
 <li>The total Bitcoin fees are $4.15 billion, and the fees since January are $849 million.</li> 
 <li>The total Ethereum fees are now at $19.6 billion, and the fees since January are $2.09 billion.</li> 
 <li>The total Solana fees are $432 million, while the fees since January are $411 million.</li> 
</ul> 
<figure id="attachment_52775" aria-describedby="caption-attachment-52775" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/7novfees.png"><img loading="lazy" decoding="async" class="wp-image-52775 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/7novfees.png" alt="Dune data" width="1637" height="512" title="Solana Network Fees Reached a New ATH Over $69M in October 19" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/7novfees.png 1637w, https://crypto.ro/en/wp-content/uploads/2024/11/7novfees-300x94.png 300w, https://crypto.ro/en/wp-content/uploads/2024/11/7novfees-1024x320.png 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/7novfees-768x240.png 768w, https://crypto.ro/en/wp-content/uploads/2024/11/7novfees-1536x480.png 1536w, https://crypto.ro/en/wp-content/uploads/2024/11/7novfees-750x235.png 750w, https://crypto.ro/en/wp-content/uploads/2024/11/7novfees-1140x357.png 1140w" sizes="(max-width: 1637px) 100vw, 1637px"></a>
 <figcaption id="caption-attachment-52775" class="wp-caption-text">
  Dune data
 </figcaption>
</figure> 
<p>Bitcoin network fees last month were over $47 million, and they reached a peak at $337 million in December 2023.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GbyHexxb0AAp9iJ?format=jpg&amp;name=large" alt="Bitcoin monthly fees" width="1396" height="880" title="Solana Network Fees Reached a New ATH Over $69M in October 20">
 <figcaption class="wp-caption-text">
  Bitcoin monthly fees
 </figcaption>
</figure> 
<p>Also, Ethereum network fees were at $142 million in October, and the highest-ever month in terms of network fees was November 2021, at $1.83 billion.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GbyG85bagAA7_EW?format=jpg&amp;name=large" alt="Ethereum monthly fees" width="1394" height="890" title="Solana Network Fees Reached a New ATH Over $69M in October 21">
 <figcaption class="wp-caption-text">
  Ethereum monthly fees
 </figcaption>
</figure> 
<p>On-chain activity is expected to rise on all blockchains, especially since Bitcoin and crypto are seeing <a href="https://crypto.ro/en/news/top-11-crypto-promises-made-by-us-president-donald-trump-in-2024/">intense support</a> in the US and abroad.</p>

Solana Network Fees Reached a New ATH Over $69M in October

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