Solana Overtakes BNB Chain & Tron As Total Transaction Fees Spikes 400%

Highlights

Solana surpasses BNB Chain & Tron in total transaction fees with a nearly 400% surge.
Layer 1 blockchains Solana, Ethereum, Fantom & NEAR flourish.
The native tokens of these blockchains appear to be witnessing a consolidation.

In a recent attention-nabbing event witnessed within the cryptocurrency sector, Solana, a renowned layer 1 blockchain, emerged as the leading platform in terms of on-chain financial activity as its total transaction fees rocketed nearly 400%. This chronicle aided Solana in surpassing BNB Chain & Tron in total transactional fees collected. However, Ethereum remains at the top of the fee generator list, with transactional fees collected around $606 million.

Meanwhile, layer 1 blockchains Ethereum and Solana embarked upon additional strides, scaling new year-to-date highs recently. Concurrently, Fantom and the NEAR blockchain followed the layer 1 frenzy, additionally showcasing significant advancements concerning their respective cryptographic ventures.

Layer 1 Blockchains Flourish

According to the insights revealed by the on-chain metrics tracker ‘The Block Pro,’ March concluded on an optimistic note for Ethereum, Soalana, Fantom, and NEAR, layer 1 blockchains.

Concerning this, Ethereum & Solana scaled new year-to-date highs of approximately $4,094 and $210, respectively, fueling market optimism among investors. Simultaneously, Solana’s total value locked (TVL) grew around 91%, second only to Ethereum, which saw a MoM TVL increase of approx. $3.8 billion.

Meanwhile, Fantom, NEAR, and Solana noted significant gains in market cap, with MoM increases of approximately 115%, 88%, and 62%, respectively. These gains are primarily attributed to NEAR’s announcement of its data availability layer and Fantom’s upcoming Sonic network upgrade, whereas Solana’s gains are attributed to a plethora of reasons.

Notably, the Fantom Sonic network upgrade aims to substantially enhance transaction speeds to 2,000 transactions per second (TPS) and improve decentralized finance (DeFi) support. Whereas, NEAR’s data availability layer announcement is a cost-effective and secure data availability solution for Ethereum developers and rollups.

This collectively paints an optimistic outlook for the abovementioned layer 1 blockchains in the market, with Solana and Ethereum, in particular, making considerable advancements with their cryptographic ventures. In the interim, the native tokens of these blockchains, ETH, SOL, NEAR, & FTM, conversely mirrored a consolidation phase in the market.

Also Read: EtherFi Commits $500M Restaked ETH In RedStone Oracles

ETH, SOL, NEAR, & FTM Prices Slip

Despite the noteworthy developments mentioned above, the broader market braces itself as the upcoming BTC halving nears. Aligning with this sentiment, cryptocurrencies appear to be witnessing quite a turbulent shift in market dynamics, accompanied by highly volatile price movements.

Ethereum’s price fell 1.66% in the past 24 hours and currently rests at $3,454. Solana trades at $167.04, with a 3.02% drop in the past 24 hours. NEAR token jotted a 5.50% drop in the past 24 hours and currently stands at $6.56. Lastly, Fantom (FTM) token fell 6% over the past day, currently at $0.8688.

Also Read: Messari CEO Eager To Join SEC Investor Advisor Committee, A Pro-Crypto Move?

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.