Ethereum price followed the broader crypto market sell-off, but its longer term price weakness is driven by network-specific factors.
Fees news
Solana-based Raydium clocked $3.4 million in fee revenue on Oct. 21 versus $3.35 million for Ethereum, according to DeFiLlama.
A sharp uptick in Solana network activity and the blockbuster performance from memecoins back SOL’s rally toward $180.
A proposal to change the blob gas target and max values on Ethereum comes seven months after blobs were introduced in the blockchain’s Dencun upgrade in March.
Although Solana’s active address count has climbed to 100 million, most wallets appear to hold little or no SOL.