Solana’s Market Strength Unfazed by Rising Transaction Fees

Share on Facebook Share on Twitter

The Essentials in Brief

Solana, one of the leading cryptocurrencies in the market, has experienced a significant increase in transaction fees in recent months. Despite the high costs, these fees do not appear to negatively affect network activity. The daily active addresses and the number of transactions remain high, suggesting that users are willing to pay the high fees.

Rising Transaction Fees on Solana

Data shows that Solana’s average transaction fees have risen sharply in recent months. The average fee has exceeded the $0.03 mark, which is significantly more expensive than most Layer-2 solutions. High transaction fees can affect network activity as users could conduct fewer transactions due to the high costs.

Network Activity Remains High Despite High Fees

Despite the high transaction costs, Solana’s daily active addresses and the number of daily transactions remain relatively high. This suggests that users are willing to pay the high transaction costs. The high fees also have a positive impact on the recorded value of the blockchain, which is reflected in an increase in revenue.

Solana’s Performance and Market Capitalization

Solana’s performance on the price front remained promising over the last month. According to CoinMarketCap, SOL rose by more than 17% in the last 30 days. At the time of writing, SOL was trading at $102.91 with a market capitalization of over $45.3 billion, making it the fifth largest cryptocurrency.

Our Assessment

Despite the high transaction fees, Solana’s network activity does not appear to be affected. This could suggest that users recognize the value and benefits of Solana and are willing to pay for it. However, it remains to be seen whether these high fees are sustainable in the long term and whether they will not deter users.

Sources: AMBCrypto, CoinMarketCap, Artemis, Santiment.

Share on Facebook Share on Twitter
Casinos: 10
Profile Solana
Symbol SOL
Coin type Alt Coin
Transaction Speed High
  • Secure payment method
  • Very fast transactions
  • Not widely used
Price 132,28 €
Percent Change 24h 2,92 %
Percent Change 7d 3,37 %
Percent Change 30d -2,37 %
Percent Change 60d 0,45 %
Percent Change 1y 412,74 %
Market Cap 61.349.562.330,00 €
Official Links
Socials Reddit | X
Best 3 Solana casinos

Latest News

Created by

I have enjoyed following the international iGaming industry since my first encounter at the age of 23. Fascinated by its diversity and complexity, I was hooked and have never left the industry since. Here at KC, I am a proud member of the founding team as well as the content team. We use everyone's knowledge to find every possible flaw in a casino so you can relax and play.
Reviewed by
Nerd of Numbers

Last update: 24. June 2024 Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

We use cookies. By using this site, you accept them.