The fee structure has changed: Hyperliquid and BNB Chain account for 40% and 20%, respectively, while Solana has dropped to only 9%

ChainCatcher news, according to The Block, this year, the fee structure generated by mainstream Layer 1 blockchains has undergone a significant change.

At the beginning of the year, Solana accounted for over 50% of the fees generated by mainstream Layer 1 blockchains, but now this has dropped to just 9%. This decline is partly attributed to the fierce competition from Hyperliquid and BNB Chain. Earlier this year, the combined fees generated by Hyperliquid and BNB Chain accounted for about 10% of the total fees from mainstream Layer 1 blockchains. As of last week, their respective shares have exceeded 40% and 20%. This shift may be caused by multiple factors such as market demand, user preferences, and structural changes, all of which have significantly impacted the flow of funds.

The first obvious sign of change is the decline in the trading frenzy of Solana's meme coins, which peaked when TRUMP was launched, and since then, the chain has failed to regain its previous level of activity. Moreover, the unit fees for derivatives trading are much higher than those for meme coin trading, so the moderate growth of Hyperliquid users and the user growth of BNB Chain through Aster can quickly change the fee share. BNB Chain has also attracted a large influx of retail user funds and activity due to the integration of Binance Alpha and Binance Wallet.