Half of the top 10 protocols by fee volume are Solana-affiliated...“meme coin craze impact”

“Half of the top 10 cryptocurrency protocols by transaction fee (gas fee) volume in the last 24 hours were on Solana (SOL) related platforms,” crypto analyst Patrick Scott said, citing data from DeepRama, according to Cointelegraph. The top protocol by transaction fees in the past 24 hours was Ethereum (ETH)-based Tether, with $13.37 million, according to the data. However, SOL-related protocols ranked second through fourth, with a cumulative total of $28.85 million in gas fees. “The increase in gas fees for SOL-related protocols can be attributed to the meme coin craze and the rising price of SOL,” Cointelegraph analyzed.