Solana surpasses Ethereum to become the blockchain network with the highest daily economic value
NAIROBI (Coinchapter.com) - Solana’s daily economic value recently surpassed Ethereum, sparking a wider discussion about blockchain utility and adoption. The shift marks an important moment in the ongoing competition between the leading blockchain networks.
According to Blockworks Research, Solana’s total economic value (TEV) reached $2,248,681 on May 12, surpassing Ethereum’s $1,977,416. TEV combines transaction fees and miner/extractor value and is often used to analyze the utility and adoption of blockchain networks. These data highlight Solana’s growing influence in the blockchain space.


Total economic value. Source: Blockworks
Additionally, Chris Burniske, a former analyst at Ark Invest, also highlighted Solana’s achievements and stressed the importance of monitoring Layer-1 blockchains that maintain annual TEV expansion. Burniske’s comments reflect the widespread interest in the performance and potential of various blockchain networks, which are constantly evolving and competing for dominance.
L2 Solutions and the Ethereum Ecosystem Debate
Furthermore, Ethereum supporters argue that it is misleading to exclude L2 solutions built on top of the main Ethereum blockchain. These solutions are designed to improve scalability and reduce fees, effectively offloading activity from the L1 chain while still being essential to the larger Ethereum ecosystem. As one commentator noted: “Since some ETH activity has moved to L2, shouldn’t we also take that into account? It’s untrue to not consider L2.”
While Burniske acknowledged that each L2 operates in its own context, TEV comparisons are often made between L1 and L1. However, some see L2 as an integral component of a larger ecosystem like Ethereum, which has struggled with high fees in the past.
Notably, Ethereum’s fees can sometimes be lower than TRON’s, highlighting the dynamic nature of this competitive space. Of course, as blockchain technology continues to develop, debates over practicality, scalability, and the role of L2 solutions are likely to persist, shaping the future direction of these influential networks.
Solana Price Analysis
Notably, Solana’s price action reflects its strong performance. As of May 15, Solana is trading at $144.02, showing a growth of 1.42%. Bollinger Bands indicate moderate volatility, with prices trading in a narrow range.


SOL/USD 1-day price chart. Source: TradingView
It is worth noting that the Fibonacci retracement levels provide important insights. The 38.2% Retracement level at $138.73 acts as strong support. The price has tested this level multiple times, indicating its importance. On the upside, the 23.6% Retracement level at $159.62 acts as resistance.
Furthermore, Solana’s price action shows consolidation in a range, hinting at the potential for a breakout. The moving averages are aligned with the current price, suggesting stability. Of course, if Solana maintains its upward momentum, it could challenge higher resistance levels, paving the way for further gains.