Half of top ten crypto protocols by fees operate on Solana

Decentralized finance commentator Patrick Scott noted on X that according to DefiLlama, five of the top ten crypto protocols by fees over the last 24 hours are on the Solana blockchain. Cointelegraph reported that while Ethereum-based Tether had the highest fees, totaling $13.37 million, Solana-based protocols—Raydium, Jito and Solana itself—ranked second to fourth, collectively generating $28.85 million in fees. This surge in fees for Solana protocols coincides with increased speculation on memecoins and a noticeable price increase for the Solana token, the media outlet explained.