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Crypto

Solana Founder Highlights ORE Revenue Surge and Encrypted Bitcoin Volume

11/23/2025, 17:35
11/23/2025, 18:06
AI SUMMARY
●Encrypted bitcoin volume on Solana reportedly exceeds Coinbase bitcoin volume.
●$ORE protocol becomes the third-largest revenue generator on the network, surpassing Phantom and Jupiter.
●Anatoly Yakovenko highlights these metrics as indicators of shifting network usage patterns.
Anatoly Yakovenko, co-founder of Solana, highlighted significant on-chain metrics, noting that 'encrypted bitcoin' trading volume on Solana has momentarily surpassed that of Coinbase's wrapped Bitcoin (cbBTC) on the network. He described the activity level as notable, emphasizing the growing utility and shifting usage patterns within the ecosystem. Additionally, Yakovenko pointed out that the mining protocol $ORE has become the third-largest revenue generator on the network in the past 24 hours. This surge allowed ORE to overtake established protocols such as Phantom and Jupiter in daily revenue generation, signaling a spike in mining activity and demand. [Update 1] New reports confirm that ORE's revenue surge placed it directly behind only the top two generators, marking a significant shift in network fee contributors. The comparison regarding Bitcoin liquidity specifically notes that encrypted bitcoin trading volume on Solana is exceeding that of Coinbase Bitcoin on the network.

Sources

01@aeyakovenko↗02@aeyakovenko↗
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