How Solana bulls are fueling the “Ethereum-killer” narrative

📆 6/1/2024 4:23 AM
📰 CryptoAmb

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Solana [SOL] has been gaining much traction in the recent past because of multiple meme coin launches on the blockchain.

has been gaining much traction in the recent past because of multiple memecoin launches on the blockchain. But there was more going on with the blockchain, as a key metric has been on an increasing trend, which looked pretty optimistic.earlier how Solana’s volume was increasing, which can be attributed to multiple memecoin launches such as Dogewifhat , BONK, etc.

In fact, if the latest data is to be considered, SOL’s fees were quite close to those of Ethereum . AMBCrypto’s analysis of Artemis’While Solana’s fees and revenue were closing in on those of Ethereum, SOL has already been dominating ETH by a substantial margin in terms of network activity. Thanks to the bullish price action, Solana’s weighted sentiment remained high. This meant that bullish sentiment around the token was dominant in the market.Source: Santiment

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