Solana Maintains Low Fees Amid Largest Crypto Liquidation Event

During record market liquidations, Solana processed high transaction volumes with low median fees, while Ethereum layer 2s saw significant gas spikes.

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Summary

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Terms & Concepts
  • Crypto Liquidation: The forced closure of leveraged positions when the trader’s margin falls below required levels, often triggered by rapid market moves.
  • Gas Fee: A transaction cost paid to validators on blockchain networks like Ethereum, calculated based on computational work and demand.
  • Layer 2: A secondary framework or protocol built on top of a blockchain to improve scalability and reduce transaction fees.