Lightspeed
Solana's On Chain Boom | Weekly Roundup
Oct 29, 2024
This week, they're diving into Solana's booming on-chain activity and its record economic value. The conversation touches on the enhancements and emerging challenges in the blockchain, along with the intriguing rise of AI meme coins. They also discuss Stripe's recent acquisition of Bridge, and how meme coins are reshaping the crypto landscape. Expect insights on future innovations, including social finance and augmented realities, while highlighting the importance of user-centric solutions in this rapidly evolving space.
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Quick takeaways
- Solana's recent economic boom has led to an impressive real economic value of $55 million weekly, reflecting increased transaction volumes.
- The migration of developers from other ecosystems to Solana indicates a growing interest in its ecosystem and has fostered significant community engagement.
Deep dives
Surge in Economic Activity
The recent increase in economic activity on Solana is notable, with significant rises in revenue derived from tips and priority fees. Notably, the real economic value (REV) reached an impressive $55 million weekly, more than doubling previous records. This uptick suggests a revitalization in transaction volumes and heightened interest among developers, many of whom have migrated from other ecosystems to tap into Solana's offerings. The resurgence in activity is attributed in part to the effectiveness of local fee markets and a decrease in transaction spam.
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