Fee Generation on Ethereum and Solana
In this report we uncover the history of fee generation between the Ethereum and Solana blockchains, analysing when and why Solana overtook Ethereum in daily fees generated.
Daily Network Fee Generation
For most of their shared history, the daily sum of fees paid by users to the validators of a network for executing transactions, has been significantly higher on Ethereum than it has been on Solana. In fact, daily fees generated on the Solana network only start to appear in a meaningful way on the chart below from January 2024. However, despite Ethereum long holding the crown as the incumbent layer-1 blockchain with the majority of on-chain activity and DeFi applications, since the tail-end of 2024, Solana fees have overtaken fees generated by the Ethereum blockchain.
