Solana now rivals Ethereum in nearly all major economic metrics, displaying consistent growth over the past few months, as per a report published by hedge fund Syncracy Capital. According to the report, Solana’s real economic value (REV) was 111% of Ethereum’s REV in October 2024, up from 1% in the same period last year.  Solana’s Total Application Revenue (TAR) was 109% of Ethereum’s in October 2024, compared to 1% a year ago. Notably, Solana’s surge in economic activity is mainly backed by the meme coin mania, as several new meme coins gained traction within the ecosystem in October.

We’d Love to Hear Your Thoughts on This Article!