Institutional investments in Solana-based applications surged to $173 million in Q3 2024, representing a significant 54% increase from the previous quarter. This level of funding is the highest since Q2 2022, despite a 37% decrease in the number of funding rounds. The report indicates that Solana generated over $2.54 million in fees on October 28, surpassing Ethereum’s $2.07 million. During Q3, average daily fee payers rose to 1.9 million, reflecting over a 109% increase quarter-over-quarter, though overall daily non-voting transactions declined by 12%. By the end of Q3, Solana became the third-largest blockchain for tokenized treasuries, totaling $123 million, as it continues to attract institutional growth, with key players like Franklin Templeton and Societe Generale planning to expand their presence on the network.

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