‘Cheap’ Solana can flip Ethereum ‘this week’

debate resurfaced again on Crypto Twitter following reports that the former could soon flip the latter on the fees front.

According to on-chain analyst Dan Smith, Solana was quickly closing in on Ethereum on transaction fees. Smith“Solana will flip Ethereum in transaction fees + captured MEV this month, maybe even this week” Transaction fees refer to charges linked to network activity, while MEV means validators’ highest value derived by maximizing block production or ‘confirmation.’Smith backed his argument with data, noting that there was about a $300K difference between Solana and Ethereum’s fees.The chart showed Solana recorded a significant surge in 2024, closing most of the gap with Ethereum.confirmed the trend on the fees front.

“The question is whether or not pushing activity to L2s where ETH, the asset is used as a currency, drives enough value back to the L1 to compensate for the loss of L1 activity”Reacting to Smith’s projection of SOL eclipsing ETH, crypto analyst Ansem“And it is still 100x cheaper to transact on for users, really think about this & explain to me in detail why ETH is still worth 5x more by market cap”Ethereum’s Uniswap on the Unique Active Wallets front., especially after last week’s pullback.

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