Solana transaction fees exceed Ethereum , and ETH is still firmly at the top of the list for destruction

Solana's overnight fees surpass Ethereum, but ETH remains the leader in destruction

A dashboard snapshot from the data platform DefiLlama on September 22 shows that Solana surpasses Ethereum for the first time in terms of total user fees, while ethereum's destruction amount is still higher. This differentiation illustrates: The costs paid by users on the chain do not necessarily translate into equivalent revenue to holders.

Two sets of data on fees and destruction

DefiLlama's Solana page shows that its 24-hour chain handover fee was approximately $1.1 million, while the reported up-chain proceeds (i.e., amount destroyed) were $117,138; Ethereum's same-period fees were $649,423 and the amount destroyed was $226,298.

The longer cycle data further widened the gap: Solana's seven-day transaction fees were about $5.93 million and 30th around $23.58 million, higher than those of Ethereum at $3.09 million and $12.04 million respectively; but on the destruction side, Ethereum's seventh ($761,849) and thirtieth ($2.8 million) remained slightly ahead of Solana at $698,884 and $2.66 million.

It should be noted that DefiLlama does not disclose the exact start and end times of each statistical window, and another daily value of $229,846 appears in its Ethereum revenue sharing table. Therefore, this comparison only applies to aggregate meters displayed on the page with a synchronization error.

How costs flow to verifiers, guarantors and applications

According to Solana's fee rules, the benchmark fee for each signature is 5,000 lamports, half of which are destroyed and the other half goes to the block verifier; the priority fees paid by users for accelerating transactions all go to the validator. This means that costs are critical: an increase in the preference fee increases the revenue of the verifier without increasing the amount of destruction, so a higher total commission can be combined with smaller amounts of destruction.

Ethereum destroys the execution tier's benchmark fee, giving preference to tipping validators. In addition, DefiLlama collects ethereum data by counting blob fees against total commissions and destruction costs.

The data relies on adapter program estimates: Solana's number of transactions with the adapter is multiplied by 5,000 lamports to estimate a benchmark fee, whereas the protocol actually charges per signature; the ethereum side approximates the benchmark fees in terms of the lowest block-efficient Gas price, and blob fees are derived from Dune. Therefore, these sell-off losses should not be considered as an actual sale of tokens that have been fully offset.

Destruction merely puts the supply at a lower level than it would have been had it not been destroyed, and does neither directly pay into holders' wallets nor prove that overall supplies are declining, much less guarantee an increase in prices. The income of verifiers is also not equal to that of hostages: Solana bail documents show that inflation bonuses were first allocated to validators and then distributed to client accounts after their commissions were deducted.

On the app side, another cash flow. In a snapshot of September 22, Solana's 24-hour revenue was $7.7 million, far higher than Ethereum's $1.9 million; its application fees were $18.2 million and $85.5 million respectively. DefiLlama counts app data separately from Gas charges, while REV (premium plus MEV commission) on the chain would result in duplicate calculations when combined with premiums.

Conclusions on the comparison of valuation and incremental change

Ethereum was destroyed for a higher amount, but its token valuation is also much larger: the same snapshot shows ETH's market value at about $ 335 billion and SOL's around $ 69 billion. The similar 30-day destruction accounts for a significantly greater proportion of Solana's Market Value.

The rate of return on holding a coin needs to be calculated separately: it compares the amount of destruction over a period with its valuation at some point in time, and if there is no correlation between new issuance during the same period and the higher percentage of destruction, then this can also be completely offset by additional distribution. The net supply of ethereum is determined jointly by addition and destruction; its combination indicates that the average daily turnover is about1,700 ETHThe example above assumes a stake of 14 million ETH, which cannot be used as the current incremental data.

Solana's adopted SGP-0002 proposal plans to raise the annual inflation rate from 15% to 30%, but explicitly assumes that SIMD-0550 will be approved and activated, with actual effects depending on what happens.

The key missing evidence for comparing the holders of SOL and ETH is that both networks grew and collapsed in detail over the same period, as well as how much was actually allocated to hands after deducting commissions. This snapshot from September shows Solana generating stronger transaction fees, Ethereum destroying a higher amount, but any observations need to be translated into earnings conclusions by figuring out how much money really flowed to holders, what new supplies were added, and the level of valuation at purchase.