Solana’s fee overhaul increases burn and makes resource hogs pay
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Solana's 7-day active addresses and transaction fees increased by 38% year-over-year, while the number of transactions increased by 9.8%.
PANews reported on July 5th that, according to on-chain analyst Ai Yi, Solana's daily active addresses have increased by 38% year-on-year (31.38 million), ranking first among public blockchains in terms of out-of-chain activity; transaction volume increased by 9.8%, and transaction fees increased by 38%. Today, due to CZ's response, the popularity of BSC Meme has increased significantly.
Bitmine's ETH holdings rose to 5.62 million, earning it a place on the Fortune Crypto 100. With total assets of $10.4 billion and a Morgan Stanley application fee rate of 0.14%, the spot Solana ETF is poised to become the lowest-fee ETF in the US market.
According to ChainCatcher and BBX data, the largest publicly traded Ethereum reserve holder updated its holdings to a new high yesterday, while Wall Street giants are simultaneously moving into spot SOL ETFs. Key developments are as follows: Bitmine Immersion Technologies, Inc. (NYSE: $BMNR) disclosed its latest holdings data in an official press release on June 22: the company's total ETH holdings have risen to 5.62 million (an increase of approximately 230,000 from 5.39 million on May 26), representing approximately 4.66% of the total circulating supply of Ethereum, reaching 93% of the 5% ultimate goal; the total value of its combined crypto assets, cash, and strategic investments is approximately $10.4 billion (including approximately $502 million in cash and securities, 204 BTC, $180 million in Beast Industries equity, and an approximately $88 million investment in Eightco Holdings); 4,718,677 ETH have been pledged (representing approximately...). 83%), with annualized staking yields of approximately $226 million. Total assets decreased from $1.23 billion on May 26, primarily due to the ETH price falling from approximately $2,134 to approximately $1,762 (a price drop of about 17%), but ETH reserves continued to grow. The company was also included in the 2026 Fortune Crypto 100 list (which selects the most influential blockchain companies of the year) and has received approval from the New York Stock Exchange to list perpetual preferred stock with a 9.5% annual dividend yield under the ticker symbol $BMNP. Morgan Stanley (NYSE: $MS) has submitted an amended registration statement to the SEC for its spot Solana ETF, setting a management fee of 0.14%—if approved, this will become the lowest-fee Solana spot ETF in the US market (existing competitors generally have fees higher than 0.20%). This marks a key extension of Morgan Stanley's multi-asset crypto ETF strategy, following its existing Bitcoin ETF ($MSBT, 0.14%, with zero net redemptions in its first month after launch on April 8). Combined with the previous crypto asset to ETP cooperation mechanism with Galaxy Digital (allowing qualified clients to directly exchange physical crypto assets for ETF shares), the company is building a complete spot ETF product line covering Bitcoin → Ethereum → Solana, directly targeting the multi-asset digital crypto allocation needs of traditional wealth management channels.
Morgan Stanley plans to set the fees for both its Ethereum and Solana ETFs at 0.14%.
PANews reported on June 22 that Morgan Stanley filed a revised S-1 registration statement on June 18 for its proposed Ethereum and Solana ETFs. Both funds will charge a 0.14% management fee. If launched at this rate, it will be lower than the current market lows – Grayscale's Ethereum Mini Trust at 0.15% and Franklin Templeton's Solana ETF at 0.19%. Morgan Stanley's Ethereum ETF will trade under the ticker symbol MSSE, and its Solana ETF under the ticker symbol MSOL. The filing also disclosed that both funds will partially stake assets through Figment, Galaxy, and Coinbase Canada, with 5% of staking rewards paid to service providers and custodians.
0xSun: I've already buy the dips in ANSEM and NEST, and I believe Solana will remain the engine of this round of on-chain price increases.
According to Odaily Odaily, trader 0xSun stated that he has purchased ANSEM and NEST at market values of approximately $280 million and $6 million respectively, in order to participate in the current on-chain market volatility. He believes that the on-chain market performance driven by blknoiz06 was active in this round, with strong Meme coins appearing in Solana, BNB Chain, and Robinhood Chain. However, the overall rotation was extremely fast. Except for ANSEM, which continued to rise for more than a week, most of the other leading chains peaked overnight. 0xSun stated that ANSEM has already corrected by over 40% from its peak, and given Ansem's continued activity and the fact that approximately 60% of its tokens remain uncirculated, a rebound is highly probable. NEST, on the other hand, is a riskier and more volatile asset, with its short-term price movement still primarily driven by market sentiment. They also believe that for investors with smaller capital, the crypto market remains a more suitable market for high-risk, high-reward plays.
Uniswap initiates v4 protocol fee activation temperature check, introducing a tiered fee controller system.
According to official sources, Uniswap Labs has released a temperature check proposal to enable protocol fees in v4 pools. This proposal follows the fast-track governance process previously approved by UNIFication, directly entering a five-day snapshot vote followed by on-chain voting. Because the v4 Hook architecture makes fee setting more complex than v2/v3, the proposal designs a V4 Fee Controller system containing two core contracts: V4FeePolicy calculates fees for any pool based on governance rules, and V4FeeAdapter is responsible for executing governance coverage and collecting fees to the TokenJar. Fees are calculated hierarchically based on the pool's family: first, the fee rate for a specific trading pair set by governance is checked; second, the default fee rate for that family is checked; and finally, the global default fee rate is checked. This proposal aims to activate fees for three types of pool families across 11 chains, including Ethereum, Arbitrum, Base, and BNB Chain: static fee rate pools without Hooks, CCA pools after continuous liquidation auctions, and aggregator Hook pools. The fee rate for the aggregator Hook pool, after a 25x multiplier adjustment, is 10 bp for non-Base chains (3 bp for stablecoin pairs) and 3 bp for Base chains (1 bp for stablecoin pairs). All fees will flow into the TokenJar of each chain. The UNI burning amount on L2 and Alt-L1 will be bridged across chains to the Ethereum mainnet and sent to the 0xdead address. The Snapshot voting window is from July 7th to 12th, and on-chain voting will begin the week of July 13th. Because GovernorBravo limits each proposal to 10 operations, on-chain voting will be submitted in parallel on two chains to cover all chains.
Uniswap has proposed extending the UNIFication burn program to v4 liquidity pools.
PANews reported on July 8th that, according to Cryptopolitan, Uniswap Labs has proposed extending the UNIfication burn program to Uniswap v4 liquidity pools, requesting UNI holders' approval to charge protocol fees on some v4 pools and use a portion of the revenue to buy back and burn UNI tokens. A snapshot vote will be held from July 7th to 12th, lasting five days. The UNIfication program currently runs on 11 chains, increasing token value by distributing protocol revenue to stakers and burning tokens. If the v4 extension proposal passes, it will further strengthen the deflationary mechanism of the UNI token and may attract more liquidity to the v4 version. The community response has been generally positive, but some smaller liquidity providers are concerned that increased protocol fees may affect their yields.