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Solana Updates Today: Blockchain Evolution: Specialization Challenges Solana's Lead in Fee Structure

Solana Updates Today: Blockchain Evolution: Specialization Challenges Solana's Lead in Fee Structure

Bitget-RWA2025/10/29 07:46
By:Bitget-RWA

- Solana's blockchain transaction fee market share dropped to 9% in 2025, down from over 50%, as Hyperliquid and BNB Chain gained traction with specialized applications and faster execution. - Hyperliquid, a derivatives-focused chain, achieved $20.19M weekly revenue and $2.41B TVL, outpacing rivals with $58.08B in perpetual trading volume and expanding short positions to $690M. - BNB Chain solidified its retail DeFi/gaming dominance in Asia, while Solana prioritized scalability upgrades and institutional p

Solana has seen a significant drop in its share of blockchain transaction fees, falling into single digits for the first time in 2025, as reported by

. The network now accounts for roughly 9% of total fees, a dramatic decrease from its position above 50% earlier this year. This decline is largely due to increased competition from high-performance blockchains such as Hyperliquid and Chain, which are drawing both traders and developers with their specialized features and faster transaction speeds.

Hyperliquid, which specializes in derivatives, has quickly become a major competitor, attracting large amounts of liquidity and seeing rapid revenue growth. According to

, the platform generated $20.19 million in revenue over the past week and saw $25 million in stablecoin deposits, pushing its total value locked (TVL) above $2.41 billion. Its perpetual trading volume reached $58.08 billion in the last week, surpassing competitors like , as Coinotag highlighted. At the same time, BNB Chain is strengthening its presence in retail DeFi and gaming, maintaining a strong user base throughout Asia and other emerging regions, according to FinanceFeeds.

Solana Updates Today: Blockchain Evolution: Specialization Challenges Solana's Lead in Fee Structure image 0

Despite Solana's reduced fee share, this does not necessarily indicate a decrease in overall activity. The network remains among the leaders in both transaction volume and daily active users. However, the shift in user participation points to a more mature blockchain sector where value is increasingly distributed across various platforms. Solana's development team is now prioritizing upgrades to boost scalability and DeFi capabilities, including new stablecoin support and institutional-grade trading solutions, as noted by FinanceFeeds.

In this competitive environment, the introduction of Bitwise's

Staking ETF (BSOL) has brought renewed energy to the market. The ETF, which launched with a 0.20% management fee (waived for the first three months), attracted $69.5 million in initial investments, surpassing the debut of Rex-Osprey's Solana ETF, according to . BSOL provides direct access to Solana's staking rewards, aiming for an average yield above 7%, as reported by . The strong performance of the ETF highlights growing institutional interest in blockchain assets, with JPMorgan predicting that Solana ETFs could see up to $6 billion in inflows during their first year, according to .

The ascent of Hyperliquid also mirrors broader trends in decentralized derivatives markets. Abraxas Capital, a significant participant, has increased its short positions on the platform, with total exposure now at $690 million, according to

. Hyperliquid's recent $1 billion treasury initiative and its listing on Robinhood have further accelerated its expansion, pushing the HYPE token above $47 and setting the stage for a possible retest of its record high of $59, as Coinotag previously reported.

The changing landscape of transaction fees and ETF launches signals a move toward a multi-chain future, where growth is driven by specialization and interoperability. Although Solana's dominance has lessened in the short term, its technical strengths and active developer base ensure it remains a significant force. The next few months will be pivotal as Solana, Hyperliquid, and BNB Chain compete for liquidity and users in an increasingly diverse market, according to FinanceFeeds.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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