{"id":90417,"date":"2025-10-29T15:15:00","date_gmt":"2025-10-29T13:15:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90417"},"modified":"2025-10-29T14:15:25","modified_gmt":"2025-10-29T12:15:25","slug":"hyperliquid-and-bnb-chain-surpass-solana-in-fee-volume","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hyperliquid-and-bnb-chain-surpass-solana-in-fee-volume\/","title":{"rendered":"Hyperliquid and BNB Chain Surpass Solana in Fee Volume"},"content":{"rendered":"<p>At the start of the year, Solana accounted for over 50% of fees among L1 networks. By October, this figure had fallen to 9%, according to data from The Block.\u00a0<\/p>\n<p><iframe loading=\"lazy\" width=\"100%\" height=\"420\" frameborder=\"0\" src=\"https:\/\/www.theblock.co\/data\/on-chain-metrics\/comparison-bitcoin-ethereum-solana\/fees-per-chain-market-share\/embed\" title=\"Fees per Chain Market Share\"><\/iframe><\/p>\n<p>During the same period, the share of <a href=\"https:\/\/forklog.com\/en\/news\/hyperliquid-to-enable-creation-of-perpetual-futures-markets\">Hyperliquid<\/a> rose to 40%, while BNB Chain reached 20%. At the time of writing, Ethereum and <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tron-trx\">TRON<\/a> stand at 7% and 14%, respectively.<\/p>\n<p>The surge in on-chain activity was driven by the excitement surrounding <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-decentralised-exchange-dex\">decentralized exchanges<\/a> for trading perpetual contracts, which began after the launch of Aster in the BNB Chain ecosystem. The platform quickly became a serious competitor to Hyperliquid.\u00a0<\/p>\n<p>In less than a month, trading volumes on such platforms surpassed $1 trillion.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"351\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-97214e8fcc1649e7-8132213816655611-1024x351.png\" alt=\"image\" class=\"wp-image-268463\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-97214e8fcc1649e7-8132213816655611-1024x351.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-97214e8fcc1649e7-8132213816655611-300x103.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-97214e8fcc1649e7-8132213816655611-768x263.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-97214e8fcc1649e7-8132213816655611-1536x527.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-97214e8fcc1649e7-8132213816655611.png 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/defillama.com\/perps\">DeFi Llama<\/a>.\u00a0<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Can Solana Regain Its Leadership?\u00a0<\/h2>\n<p>Solana ranks among the top three L1 networks by the volume of <a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a> in circulation. The capitalization of stablecoins on this blockchain exceeds $14.9 billion.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"230\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/img-d94c8c26be4080a5-8132227025321195-1024x230.png\" alt=\"image\" class=\"wp-image-268464\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/img-d94c8c26be4080a5-8132227025321195-1024x230.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/img-d94c8c26be4080a5-8132227025321195-300x67.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/img-d94c8c26be4080a5-8132227025321195-768x172.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/img-d94c8c26be4080a5-8132227025321195-1536x345.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/img-d94c8c26be4080a5-8132227025321195.png 1648w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/defillama.com\/stablecoins\/chains\">DeFi Llama<\/a>.\u00a0<\/figcaption><\/figure>\n<p>The ecosystem offers <a href=\"https:\/\/forklog.com\/en\/news\/what-is-tether-usdt\">USDT<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-the-usdc-stablecoin\">USDC<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/ethenas-usde-joins-the-ranks-of-top-stablecoins\">USDe<\/a>, USDS, <a href=\"https:\/\/forklog.com\/en\/news\/what-are-makerdao-mkr-and-the-dai-stablecoin\">DAI<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/what-is-paypals-pyusd-stablecoin\">PYUSD<\/a>, and many other assets. Solana attracts attention not only from private investors but also from <a href=\"https:\/\/forklog.com\/en\/news\/bitwise-predicts-solana-as-wall-streets-future-favorite\">institutional players<\/a>, including <a href=\"https:\/\/forklog.com\/en\/news\/kazakhstan-to-launch-stablecoin-on-solana-blockchain\">government entities<\/a>.<\/p>\n<p>On October 28, it was announced that payment giant Western Union will <a href=\"https:\/\/www.businesswire.com\/news\/home\/20251028647920\/en\/Western-Union-Announces-USDPT-Stablecoin-on-Solana-and-Digital-Asset-Network\">issue<\/a> the USDPT stablecoin on the network. The release is scheduled for 2026, with Anchorage Digital Bank serving as the custodian.\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cWestern Union will provide customers access to digital assets, allowing them to send, receive, spend, and store USDPT through a single platform with a seamless interface, utilizing the company\u2019s global compliance and risk management systems,\u201d the press release states.\u00a0<\/em><\/p>\n<\/blockquote>\n<p>Previously, the firm <a href=\"https:\/\/forklog.com\/en\/news\/western-union-to-integrate-stablecoins-into-money-transfers\">launched<\/a> a pilot project for stablecoin settlements. Its CEO, Devin McGranahan, stated that Western Union was prompted to this decision by the adoption of the <a href=\"https:\/\/forklog.com\/en\/news\/donald-trump-enacts-stablecoin-legislation\">GENIUS Act<\/a> in the United States.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>At the start of the year, Solana accounted for over 50% of fees among L1 networks. By October, this figure had fallen to 9%.<\/p>\n","protected":false},"author":1,"featured_media":90418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"Solana's fee share among L1 networks dropped from over 50% to 9% by October.","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,1307,1823,1159,807],"class_list":["post-90417","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-bnb-chain","tag-hyperliquid","tag-solana-sol","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"147","promo_type":"1","layout_type":"1","short_excerpt":"Solana's fee share among L1 networks dropped from over 50% to 9% by October.","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90417","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=90417"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90417\/revisions"}],"predecessor-version":[{"id":90419,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/90417\/revisions\/90419"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/90418"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=90417"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=90417"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=90417"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}