Solana now rivals Ethereum in nearly all major economic metrics, displaying consistent growth over the past few months, as per a report published by hedge fund Syncracy Capital. According to the report, Solana’s real economic value (REV) was 111% of Ethereum’s REV in October 2024, up from 1% in the same period last year.  Solana’s Total Application Revenue (TAR) was 109% of Ethereum’s in October 2024, compared to 1% a year ago. Notably, Solana’s surge in economic activity is mainly backed by the meme coin mania, as several new meme coins gained traction within the ecosystem in October.

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