Leon Waidmann, an on-chain analyst, reported that the economic profitability of Solana has surpassed Ethereum's for the first time ever. The report comes just after the altcoin hit a new milestone, as its daily economic value exceeded $2.2 million.
Another project that has hit a significant milestone is KangaMoon (KANG). Ranked as one of the hottest new meme tokens, KangaMoon has announced a listing on one of the top centralized exchanges, Bitmart, setting the stage for a potential price rally.
Solana (SOL) Becomes More Profitable Than Ethereum
Solana (SOL), one of the top Ethereum competitors, has finally hit a major milestone. In a tweet, Leon Waidmann, who is an on-chain analyst, said that the daily economic profitability of Solana has exceeded Ethereum's for the first time ever.
Waidmann showed a chart from Blockworks on which the total economic value of both altcoinswas depicted for the period from February 14 to May 12, 2024. The profit for Solana and Ethereum was obtained from the transaction fees and MEV.
The graph clearly indicated that Ethereum was really doing well in February and March, but it'sperformance went down in April. On the contrary, in mid-February, the Solana network was not doing well, but by March, it started to pick up. All this resulted in the profitability of Solana overtaking Ethereum on May 12, with over $2. 2 million.
Concerning the price performance, SOL has produced more profits than ALGO in 2024. Since the beginning of this year, Ethereum has given a return of 31.5%, and the SOL altcoin has already jumped by 61.5%, and now it is trading above the $160 support level.
KangaMoon (KANG) Builds Momentum, Earns Exchange Listing on Bitmart
KangaMoon (KANG) is another project that has captured the attention for hitting a significant milestone. Ahead of its launch, the KangaMoon team has announced that its KANG tokens will be listed on Bitmart, one of the leading centralized exchanges (CEXs).
The announcement is a culmination of the success of KangaMoon, a project that has raised over $6.7 million in its cryptocurrency ICO phase. There has been so much interest in this new project because it has ventured into the meme coin space to achieve what many others have failed to, utility.
KangaMoon has come up with a one-of-a-kind Social-Fi protocol which is the blending of GameFi and Play-To-Earn, along with meme culture. The game enables the players to select their champions before they enter Kangaverse and then participate in interesting challenges and battles to get free KANG tokens.
The distinctive Social-Fi model of KangaMoon makes it available to all kinds of users, not only gamers. Common people can also get KANG, NFTs, and other amazing prizes by being part of the ecosystem. The earnings could be yours if you start to follow the social media handles of KangaMoon and begin to interact with them. Thus, KangaMoon is a one-of-a-kind project in the meme coin space.
KANG has also been one of the most impressive new meme tokens in the market, rising by 400% during its cryptocurrency ICO phase. KANG is now trading at $0. 025 per token, analysts have predicted that Bitmart listing will make its price as high as $0.5. Thus, this is one of the best cryptos to buy now.
In Conclusion
The new record of Solana again proves that it is the main rival to Ethereum and may have a huge influence on the altcoin market. In the meantime, KangaMoon is just starting to reap the benefits of its revolutionary new Social-Fi protocol. The listing is expected to be a starter for the great adoption of KangaMoon, and this could make it go on a parabolic surge, thus making KANG one of the best cryptos to buy today.
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