PANews reported on November 5th that, according to Devilam data, with the surge in derivatives trading activity, Hyperliquid and BNB Chain have respectively captured 40% and 20% of the mainstream Layer 1 blockchain transaction fee market, while Solana's share has fallen from over 50% at the beginning of the year to only 9%. The decline in the Solana memecoin trading craze, the lack of strong native applications, and the rise of Hyperliquid and BNB Chain in the derivatives market are the main reasons for this shift.PANews reported on November 5th that, according to Devilam data, with the surge in derivatives trading activity, Hyperliquid and BNB Chain have respectively captured 40% and 20% of the mainstream Layer 1 blockchain transaction fee market, while Solana's share has fallen from over 50% at the beginning of the year to only 9%. The decline in the Solana memecoin trading craze, the lack of strong native applications, and the rise of Hyperliquid and BNB Chain in the derivatives market are the main reasons for this shift.
Solana's transaction fee market share has fallen to 9%, while Hyperliquid and BNB Chain are rising to lead the L1 blockchain market.
PANews reported on November 5th that, according to Devilam data, with the surge in derivatives trading activity, Hyperliquid and BNB Chain have respectively captured 40% and 20% of the mainstream Layer 1 blockchain transaction fee market, while Solana's share has fallen from over 50% at the beginning of the year to only 9%. The decline in the Solana memecoin trading craze, the lack of strong native applications, and the rise of Hyperliquid and BNB Chain in the derivatives market are the main reasons for this shift.
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