The Layer 1 transaction fee situation has turned sharply 💸
At the beginning of the year, Solana accounted for over 50% of total transaction fees, but now it is only about 9%, giving way to Hyperliquid (40%) and BNB Chain (20%).
This change comes from the waning memecoin craze on Solana, while derivatives trading – which generates more fees – is booming on Hyperliquid and BNB Chain.
The Binance ecosystem is also strongly attracting new users, solidifying its top position.
To regain market share, Solana needs a breakthrough dApp or a new speculative cycle; otherwise, the downward trend will continue.
Not investment advice. If you still believe Solana has "cheap fees, high profits," then Hyperliquid and BNB have quietly collected all the fees! 😅