According to a report released by the cryptocurrency research organization Kairos Research on December 26: In November and December, Solana's liquidity staking protocol, Jito, earned over $100 million in monthly revenue through priority fees and tips.
Kairos stated that by 2024, tips income from Jito validators will increase by an average of 32% per month, with monthly revenue peaking at around $210 million in November. The increasing tip income of Jito reflects the growing popularity of the Solana network. At the same time, it also indicates that the income earned by validators through prioritizing certain transactions (over others) is on the rise. This practice is known as Maximum Extractable Value (MEV).
In 2024, for the first time, Solana validators earned more from MEV than Ethereum. Meanwhile, according to data from Dune Analytics, transaction fees on the Solana network rose from about 60,000 Solana tokens per day in January to over 150,000 in October. As of December 26, according to Jito Labs - the developer behind Jito - more than 93% of Solana validators are using their software to maximize income from block building. PANews reported this news on December 27.
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