The post Solv Protocol Overtakes Solana & Uniswap with $1.48M Fees: New Leader in BTC Staking! appeared first on Coinpedia Fintech News
In the last 24 hours, Solv Protocol, a leading Bitcoin staking platform, with a 24-hour protocol fee of $1.48m, has emerged as the sixth largest among the protocols. Interestingly, Solana, with $1.24m in fees, and Uniswap, with $1.15m in fees, have been pushed down to eighth and ninth positions, respectively. Here is what you should know about this crucial development.
Solv Protocolâs 24-Hour Performance: An AnalysisÂ
Looking at the fees and revenue chart of Solv Protocol, it is clear that the 24-hour fee of the protocol stands at $1.48m, and the 24-hour revenue remains at $295,637. At the start of October, the fee was at a level of $12.29k. On the second day of the month, it slightly rose to 20.2k. On the third day, it further climbed to $159.27k. Yesterday, it touched a peak of $1.48m. Today, it is at a range of $427.06k.
A post on X by Wu Blockchain states that the impressive performance of Solv Protocol has helped it to become the highest TVL holder within the BTCFI (Bitcoin Financial Infrastructure) ecosystem. Â
At present, the TVL of Solv Protocol is $1.319b. Since April, the protocol has seen a sharp rise in TVL. On April 3, it was just $109.52m. On June 17, it reached a peak of $1.403b. On August 31, it touched a peak of $1.555b â the highest recorded this year.Â
According to DefiLlama, Solv Protocol generated $1.48 million in protocol fees in the past 24h, ranking 6th on DeFillama, surpassing Solana (about $1.24 million) and Uniswap (about $1.15 million). Solv Protocol TVL has reached $1.4 billion, becoming the protocol with the highestâŠ
â Wu Blockchain (@WuBlockchain) October 5, 2024
Solv Protocol Vs. Solana and Uniswap: A Comparative AnalysisÂ
The 24-hour fee of Solana is $1.24m â slightly lower than that of Solv Protocol. Meanwhile, its 24-hour revenue stands at $617,634 â significantly higher than that of Solv Protocol. On October 1, the fee was $1.12m. The next day, it rose to $1.4m. On the third day of the month, it slightly slipped to $1.24m.Â
The 24-hour fee of Uniswap is $1.15m â far lower than that of Solv Protocol. On October first, it was around $2.36m. Since then, it has dropped consistently. On the second day, it fell to $1.75m. The next day, it reached $1.37m. Yesterday, it was around $1.15m. Today, it stands at $1.1m.Â
In conclusion, this rapid rise in the fees and TVL of Solv Protocol suggests the growing popularity of the protocol in the DeFI and Bitcoin staking space.Â
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