Solana has gained major traction in the ongoing year and most recently it was reported that it surpassed the Ethereum chain in terms of volume, and TVL.
In a most recent development, it has been noted that Jito the Solana-based staking pool has marked a major milestone by gathering a revenue of $100 million in priority fees and tips in November and December 2024.
As per a recent report by Kairos Research, a cryptocurrency researcher, Jito validators scaled tip revenue by an average of 32 percent monthly. The report also notes that the revenue reached $210 million in November this year.
Finance experts claim that the surging tip fee of Jito highlights the growing popularity of Solana globally. Since the middle of 2023, the Solana chain has succeeded in registering significant milestones.
For the first time, Solana’s validators made more money from MEV than Ethereum in 2024. According to statistics from Dune Analytics, this occurred at the same time as transaction costs on the Solana network nearly tripled, going from over 60,000 Solana SOL tickers down $190.49 per day in January to over 150,000 in October.
Jito intends to give JitoSOL restakers 0.15% of tip money. The vast bulk of tip revenue will continue to go to validators.
Solana chain to surpass Ethereum in the near future?
Solana has succeeded in constantly touching new heights in terms of adoption, trading volume, and market capitalization.
On the other hand, its native token has been performing well in the broader market when writing it was trading at $190.21 with an intraday surge of 1.11 percent and an addition of 69.67 percent.
Solana is the 6th most prominent cryptocurrency in the market in terms of market capitalization and the 7th most traded among all.
Although Solana has reasonable expectations, investors should also keep an eye out for other prospects that provide higher short-term gains.
Solana’s overall trajectory; they anticipate an 8.70% increase by December 25, 2024. Bearish forces are trying to prevent Solana from rising, but it looks like it is stuck in a downward spiral.
Its volatility and the likelihood of a return to earlier levels have been exacerbated by each price decline during the past 30 days. Instead, SOL has established itself at a support level that is lower than the earlier peaks.
A change in investor interest has been blamed by several market observers for Solana’s failure to re-discover new price highs. According to market dynamics, traders look for the next opportunity to invest and profit while the bull market is still strong.
