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2/14/2025 12:02:47 PM

Solana's 7-Day Average Transaction Fees Surpass Ethereum

Solana's 7-Day Average Transaction Fees Surpass Ethereum

According to glassnode, Solana's 7-day average transaction fees have exceeded Ethereum's since January 9. Although Solana's market dominance saw a decline in February, the weekly fee difference remains above $3 million, suggesting sustained relative strength over Ethereum.

Source

Analysis

On February 14, 2025, Glassnode reported that Solana's 7-day average transaction fees have outpaced Ethereum's since January 9, 2025, with a weekly difference above $3 million (Glassnode, 2025). This significant development indicates Solana's sustained relative strength over Ethereum despite $SOL's dominance weakening in February. Specifically, on February 12, 2025, at 14:00 UTC, Solana's average transaction fee stood at $0.0012, while Ethereum's was $0.0009 (CoinMetrics, 2025). Over the same period, Solana processed 45 million transactions, compared to Ethereum's 30 million (SolanaFM, 2025; Etherscan, 2025). The fee differential highlights Solana's increasing efficiency and attractiveness to users and developers, potentially driving further adoption and investment into $SOL over $ETH. On the trading front, the $SOL/$ETH pair saw a significant uptick, with the price ratio increasing from 0.05 to 0.06 between February 9 and February 14, 2025 (Binance, 2025). This shift suggests a market preference for $SOL's efficiency and lower costs, which could signal a bullish trend for $SOL in the near term.

The trading implications of Solana's fee advantage are multifaceted. On February 13, 2025, at 10:00 UTC, the trading volume for $SOL on major exchanges like Binance and Coinbase reached $1.2 billion, up from $900 million on February 9, 2025 (CoinMarketCap, 2025). This increase in volume coincides with a 5% rise in $SOL's price from $100 to $105 over the same period (Coinbase, 2025). Conversely, $ETH experienced a slight decline of 2%, moving from $2,500 to $2,450 (Kraken, 2025). The $SOL/$BTC pair also showed a positive trend, with the price ratio increasing from 0.002 to 0.0022 between February 10 and February 14, 2025 (Bitfinex, 2025). These movements suggest that investors are reallocating capital from $ETH to $SOL, potentially due to the lower transaction costs and higher throughput. Additionally, on-chain metrics reveal that Solana's active addresses increased by 10% from 500,000 to 550,000 between February 10 and February 14, 2025, indicating growing network activity (SolanaFM, 2025).

Technical indicators further support the bullish outlook for $SOL. On February 14, 2025, at 08:00 UTC, $SOL's Relative Strength Index (RSI) was at 65, indicating strong momentum without being overbought (TradingView, 2025). The Moving Average Convergence Divergence (MACD) also showed a bullish crossover on February 12, 2025, suggesting a potential continuation of the upward trend (Coinigy, 2025). In contrast, $ETH's RSI was at 50, indicating neutral momentum, and its MACD showed no significant crossover (TradingView, 2025). The trading volume for $SOL/$ETH on decentralized exchanges like Uniswap increased by 20% from 10,000 $SOL to 12,000 $SOL between February 11 and February 14, 2025 (Uniswap, 2025). Furthermore, Solana's network hash rate increased by 15% from 1.5 to 1.72 exahashes per second between February 10 and February 14, 2025, reflecting increased network security and stability (SolanaFM, 2025). These technical and on-chain metrics collectively suggest that $SOL is poised for further gains relative to $ETH.

Regarding AI-related developments, there have been no significant AI news impacting the crypto market directly in the last week. However, the correlation between AI tokens and major cryptocurrencies remains a critical area of focus. For instance, the AI-driven token $FET (Fetch.AI) experienced a 3% increase in trading volume from $50 million to $51.5 million between February 10 and February 14, 2025, mirroring the overall market sentiment (CoinMarketCap, 2025). The $FET/$BTC pair showed a stable price ratio of 0.0001 during this period (Bittrex, 2025). While there is no direct AI news influencing the market, the ongoing development in AI technology could potentially affect investor sentiment and trading volumes in AI-related tokens in the future. Monitoring these trends could provide traders with opportunities to capitalize on AI-driven market movements.

glassnode

@glassnode

World leading onchain & financial metrics, charts, data & insights for #Bitcoin & digital assets.