This article really resonates with me; no wonder it's my largest holding! 🧐 #SOL
He raised a soul-searching key question:
"Who is the 'most commonly used public chain'?"
Using data 📊 to support the results:
Who trades the most? → #Solana
Who has the most users? → #Solana
Who has the most frequent capital flow? → #Solana
Who has the fastest growing TVL? → #Solana
Who has the highest increase in fee income? → #Solana
1️⃣ TVL: 10x explosive growth
At the beginning of 2023, Solana's TVL accounted for less than 1% (0.7%) of the entire industry, and now it has soared to over 9.5%.
During the same period, Arbitrum, Optimism, and Polygon, the Ethereum L2s, either stagnated or saw their shares halved.
Capital isn't foolish; a 10x increase in TVL indicates that real money believes this place can make a profit and is worth staying.
2️⃣ Transaction volume: Solana did 5 times the work of ETH
During the "meme coin frenzy" at the beginning of 2025, the number of transactions processed by Solana in a single day was 5 times that of the Ethereum mainnet.
Over the past two years, 82% of all on-chain transactions occurred on Solana—despite Base and BSC taking a small share recently, it remains the absolute leader.
Some say: "Isn't it all just bots doing the transactions?"
Answer: Bots still have to pay gas fees. And you can tell just by looking at the user numbers…
3️⃣ User numbers: From 6% to 28%
The user share of the Ethereum mainnet dropped from 20% to 6%, a decline of 70%.
The user share of Solana surged from 6% to 28%, nearly a 5-fold increase.
While L2s have taken away some Ethereum users, the biggest winners are actually BSC and Solana—especially the latter, which has attracted a large number of new users with its low barriers and high performance.
4️⃣ Fee income: From "drizzle" to "level playing field"
In January 2023, Solana accounted for only 0.17% of the total network fees, which was almost negligible.
Now? 22.4%, and monthly fee income often matches that of Ethereum (both accounting for about 40% of the total network).
Don't underestimate this number. Solana's gas fees are cheap, and if it can still collect this much money, it indicates that the transaction volume is absurdly high—cheap + high frequency = real demand.
5️⃣ Capital flow: Transfer scale comparable to Ethereum
Many people think Solana is all about "meme coins inflating transactions," but the data does not support this.
Solana has consistently accounted for nearly 30% of the total on-chain transfer value, comparable to the Ethereum mainnet.
At the peak in January 2025, 75% of on-chain capital flow was on Solana, while Ethereum only had 12%—a 6-fold difference.
This article provides a well-reasoned analysis of the historical process and development of #SOL, truly deserving! #SOL is currently my largest holding! 🫡
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