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Solana Surpasses Ethereum in Daily TEV on May 12 with $2.248m vs $1.977m

May 14, 2024, 06:27 PM

Solana has achieved a significant milestone by surpassing Ethereum in daily total economic value (TEV) for the first time. On May 12, Solana generated more TEV than Ethereum, with $2.248 million compared to Ethereum's $1.977 million. This marks a notable moment in the blockchain sector, highlighting Solana's growing influence. Additionally, Solana's on-chain trading volume surged past $1.70 billion in the last 24 hours, with memecoins accounting for the majority of the trading volume. Solana also flipped Ethereum in 24-hour on-chain trading volume, according to data from Dex Screener.