{"id":18664,"date":"2024-11-18T10:41:41","date_gmt":"2024-11-18T08:41:41","guid":{"rendered":"https:\/\/forklog.com\/en\/record-daily-fees-propel-solana-to-december-2021-highs\/"},"modified":"2024-11-18T10:41:41","modified_gmt":"2024-11-18T08:41:41","slug":"record-daily-fees-propel-solana-to-december-2021-highs","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/record-daily-fees-propel-solana-to-december-2021-highs\/","title":{"rendered":"Record Daily Fees Propel Solana to December 2021 Highs"},"content":{"rendered":"<p>On the morning of November 18, Solana&#8217;s price surged past $245, a level last seen in December 2021. This was driven by the network&#8217;s highest-ever fees, totaling $9.3 million.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/1-1303.webp\" alt=\"1-1303\" class=\"wp-image-245435\"\/><figcaption class=\"wp-element-caption\">Dynamics of TVL and fees in Solana. Data: <a href=\"https:\/\/defillama.com\/chain\/Solana?fees=true\">DeFi Llama<\/a>.<\/figcaption><\/figure>\n<p>The surge in network activity was fueled by renewed interest in memecoins.<\/p>\n<p>On November 17, crypto influencer Patrick Scott noted that five of the top ten protocols by fees in the past 24 hours were linked to Solana.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Due to a memecoin frenzy, over the past 24 hours, half of the top 10 crypto protocols by fees generated were on Solana.<\/p>\n<p>This is either a massive top signal or radical shift in market activity. <a href=\"https:\/\/t.co\/iKAbqSYx6j\">pic.twitter.com\/iKAbqSYx6j<\/a><\/p>\n<p>\u2014 Patrick Scott | Dynamo DeFi (@Dynamo_Patrick) <a href=\"https:\/\/twitter.com\/Dynamo_Patrick\/status\/1858231122456351215?ref_src=twsrc%5Etfw\">November 17, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to <a href=\"https:\/\/defillama.com\/fees\/simple\">current data<\/a>, the highest revenues were recorded by:<\/p>\n<ul class=\"wp-block-list\">\n<li>DEX Raydium \u2014 a record $13.37 million;<\/li>\n<li>liquid staking protocol Jito \u2014 $7.89 million;<\/li>\n<li>memecoin trading Telegram bot Photon \u2014 $2.36 million;<\/li>\n<li>memecoin launch platform Pump.fun \u2014 $1.65 million.<\/li>\n<\/ul>\n<p>In the last 24 hours, SOL <a href=\"https:\/\/www.coingecko.com\/\">increased in value by 1.5%<\/a>, and over the past week by 17.4%. At the time of writing, the asset is trading at $242.47. The <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> was recorded at $259.9.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/2-944.webp\" alt=\"2-944\" class=\"wp-image-245436\"\/><figcaption class=\"wp-element-caption\">Daily chart of SOL\/USDT on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/SOLUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The leading memecoin on Solana, dogwifhat (WIF), <a href=\"https:\/\/www.coingecko.com\/en\/coins\/dogwifhat\">fell by 4.9%<\/a> over the day.<\/p>\n<p>Among the tokens launched on Pump.fun, eight out of ten showed positive dynamics in the last 24 hours <a href=\"https:\/\/www.coingecko.com\/en\/categories\/pump-fun\">according to observations<\/a>.<\/p>\n<p>Earlier, on November 13, the memecoin Peanut the Squirrel (PNUT) quadrupled in value within a day.<\/p>\n<p>Previously, VanEck highlighted the high chances of Solana-ETF approval by the end of 2025. In June, the company <a href=\"https:\/\/u1f987.com\/en\/news\/vaneck-files-for-solana-etf-boosting-sol-price\">filed an application<\/a> with the <span data-descr=\"U.S. Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span> to launch the product.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the morning of November 18, Solana&#8217;s price surged past $245, a level last seen in December 2021. This was driven by the network&#8217;s highest-ever fees, totaling $9.3 million. Dynamics of TVL and fees in Solana. Data: DeFi Llama. The surge in network activity was fueled by renewed interest in memecoins. On November 17, crypto [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,1145,1161,1159],"class_list":["post-18664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-market-analysis","tag-memes","tag-solana-sol"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=18664"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/18664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/18663"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=18664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=18664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=18664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}