Solana Daily Network Revenue Tops $1 Million, Highest in Six Months
Summary
- Solana (SOL)’s daily network revenue topped $1 million, reaching its highest level in six months.
- Applications built on Solana generated a combined $82.9 million in revenue in July, the highest monthly total since February.
- CryptoBriefing said rising protocol fees and network revenue on Solana point to stronger demand for block space and could also affect validator income and SOL staking returns.
Forecast Trend Report by Period
Solana’s daily network revenue has climbed above $1 million, reaching its highest level in six months.
CryptoBriefing reported on Aug. 24 that Solana’s network revenue exceeded $1 million on Aug. 19. The total includes base fees, priority fees and maximal extractable value, or MEV, tips.
The recovery in the metric comes as on-chain activity in the Solana ecosystem has increased. Applications built on Solana generated a combined $82.9 million in revenue in July, the highest monthly total since February.
Network revenue and application revenue are different measures. Network revenue refers to income generated by the blockchain itself, including fees paid to validators and SOL that is burned. Application revenue, by contrast, is income collected from users by dApps and protocols operating on Solana.
Solana accounted for 16.5% of protocol fees generated across all blockchains in July, the third-highest share. On Aug. 18, daily protocol fees on Solana reached $5.35 million, making it the top blockchain by that measure for the first time in about five months.
CryptoBriefing said the increase in network revenue shows demand for Solana’s block space is rising. It added that higher fees could also affect validator income and returns from SOL staking.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.