Solana Fees + Burn Tracker: Last 24 hours
💰 1,837.175 SOL
🔥 918.587 SOL
SOL Burnt (24h)
🎫 0.000049347 SOL
Average Non Vote Fee (24h)
Non-vote TX paying priority (24h)
Solana Burned Over Time
How much Solana is burned each day?
Did you know 50% of all Solana transaction fees are burned? In the last epoch Solana burned a massive 2,267.08 SOL. Each epoch lasts around 2.5 days, so that is roughly 906.83 SOL per day!
Total Solana Fee Volume
How much is Solana generating in user fee revenues each epoch?
In the last epoch Solana generated a total of 1,157.63 SOL in fees from user - ie non vote - transactions. A 'user' in this case includes any Solana wallet, exchange, or application that is not a validator.
How much is Solana generating in total fee revenue each epoch?
In the last epoch Solana generated a total of 4,534.16 SOL in fees from all network transactions. This figure includes fees paid by validators to participate in consensus by voting. That's roughly 1,813.66 SOL per day!
This fee revenue is shown broken down into three main sources - the vote fees from validators, the base fees paid on every transaction, and the priority fees paid.
Average Fees & Priority Fee Usage
What is the average transaction fee paid by a Solana user?
The average transaction fee paid by Solana's users in the last epoch was 0.000013698 SOL. This was the average fee paid on all transactions that are not vote transactions, including priority fees. Many transactions would have paid the minimum fee of 0.000005 SOL, but some would have paid more to guarantee priority processing of their transactions/.
Showing the average fee a network user paid during each epoch, excluding vote transactions. A user in this case could be a browser wallet or a trading bot: most human users pay low to no priority fees, while trading bots bring the average up by paying extra to ensure their trades land on time.
What is the average transaction fees across all Solana transactions?
The average transaction fee paid by Solana's users in the last epoch was 0.000005967 SOL. This was the average fee paid on all transactions, including vote transactions, and including priority fees.
Showing the average fee paid by all transactions on the Solana network, for each epoch. Since validator vote transactions pay a fixed fee this is less representative of fees network users are paying
How many user transactions are paying priority fees?
In the last epoch, 61.31% of user transactions were paying priority fees.
This chart shows what percentage of non-vote transactions elected to use a priority fee. In this case - as for all metrics on the page - a fee is considered 'priority' when it exceeds the 0.000005 SOL base fee. This means even a tiny tip (eg a fee of .000005001) is included.
What is the average priority fee paid by Solana users?
In the last epoch, Solana users paid an average priority fee of 0.000014311 SOL.
The average priority fee shows on average how much in total a non-vote transaction with a priority tip or 'bump' is paying to be included in a block. It includes the .000005 SOL base fee.
Where do fees go?
What happens to the transaction fees?
At present 50% of all fees on Solana - whether base fees, vote fees or priority fees - are burned. The remaining 50% are sent to the leading validator who proposed the block.
Why Are Solana's 'Gas' Fees For Transactions So Low?
How Much Are Transaction Fees on Solana vs. Ethereum?
Transaction fees in cryptocurrency refer to the charges a user pays when transferring crypto coins from one account to another. Before a transaction can pass or be recorded in the blockchain, it’ll require a certain fee.
Cryptocurrencies generally have three types of transaction fees:
- Network fees
- Wallet fees
- Crypto exchange fees.
Transaction fees vary between coins, depending on two key factors: the time required to generate new blocks on the blockchain and the number of transactions that a single block can handle. Solana has better block time (0.4 seconds) and block size (20,000 transactions) than Ethereum (block time: 13 seconds, block size: 70 transactions).
The higher block time and block size are why the Solana network offers an incredibly low transaction fee of just $0.00025 per transaction. This price makes Solana one of the blockchains with the cheapest transaction fees. In contrast, Ethereum, which is Solana's primary competitor, currently charges an average transaction fee is between $3-10 in September 2021. This fee can fluctuate dramatically depending on transaction volume across the network, and it is not uncommon to see complaints on social media about gas fees of as much as $50 or $100, even for minor transactions.
With numbers like those, Solana should climb higher than 50,000 TPS without any difficulty. That is about equivalent to what VISA is capable of, according to bitcoin.com.
Solana is rapidly growing in CPU and other technologies and promises to double its scalability every two years. If the network can achieve this, the transaction fees will remain cheap and may even fall since competition for block-space falls.
In contrast, Ethereum has not shown any surprises as the transaction fees skyrocket as use increases. The abysmal nature of the Ethereum blockchain has resulted in intense pressure for block-space. Hopefully, Eth 2.0 will change this narrative.
The new Ethereum version will ultimately expand the Ethereum blockchain to accommodate millions of transactions per second, reducing transaction fees and considerably increasing transaction speed.
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