The Ethereum versus Solana debate is often misguided, as they serve different purposes—Solana is a high-throughput execution layer while Ethereum offloads execution to L2 rollups. A more fitting comparison is between Solana and Base, Ethereum's most active L2 backed by Coinbase. In August, Solana's total fees surpassed Base, with $77.8 million versus $6.2 million. Solana also outperformed Base in application revenues, generating $136 million against $21 million. Trading volumes showed similar trends with Solana at $118 billion and Base at $53 billion. In terms of stablecoins, Solana's supply of $11.2 billion dwarfs Base's $4.3 billion, though Base boasted a higher transfer volume of $1.5 trillion compared to Solana’s $292 billion. Despite a challenge in memecoin activity from Base, Solana continues to generate more revenue and has a larger active user base. Overall, while Solana excels in several metrics, its competition with Base and the broader rollup ecosystem may shift the perspective on which chain is superior.

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