Meme coin market added close to $3 billion on Thursday. The sector is now worth $29.3 billion, up almost 10% today. Three blockchains are fighting over that money.

Solana, BNB Chain and Robinhood Chain each claim a share of it. Thursday’s trading data says only one of them is really winning.

Most of the $3 Billion Never Touched These Three Chains

The headline number flatters all three. Meme tokens traded $3.6 billion on Thursday, and three coins accounted for 59% of it.

Dogecoin (DOGE) led with $1.24 billion, and it runs on its own network. DOGE price rose 12.3%. Pepe (PEPE) followed with $514 million, and it sits on Ethereum. Official Trump (TRUMP) took $421 million.

So the contested pool is far smaller than the headline suggests. Market cap shows what a token is worth, not where traders went.

Two numbers show that. Volume records where money moved. Fees record what the chain kept.

Solana Wins Thursday’s Volume Test

Solana processed $3.01 billion in decentralized exchange trades over 24 hours, DefiLlama data show. BNB Chain handled $1.25 billion.

Robinhood Chain managed $510.8 million. It is the newest of the three, launched in July as a network for tokenized stocks.

Solana therefore out-traded both rivals combined. It took 63% of the three chains’ total flow.

Its launchpad token drew much of that. Pump.fun (PUMP) traded $286 million, fourth among all meme tokens.

One caveat applies to every figure here. These totals cover all tokens on each chain, not meme coins alone.

Fees Show Whose Volume Is Worth Something

Volume is the easier number to grow. Blockspace is cheap, and a dollar can change hands many times in a day.

Fees are harder. Solana earned $925,809 in chain fees on Thursday. BNB Chain took $689,745. Robinhood Chain collected $59,275.

The distance is stark. Solana moved 5.9 times Robinhood’s volume but earned 15.6 times its fees.

Now measure fees per dollar traded. BNB Chain converted 0.055% of its volume. Solana managed 0.031%. Robinhood Chain kept 0.012%.

That reorders the podium. Solana wins on scale, but BNB Chain extracts nearly twice as much value from each dollar.

The effect shows in the totals. Solana takes 63% of the three chains’ volume but only 55% of their fees.

Chains with no meme scene still earned more. Ethereum collected $1.22 million and Tron took $876,853.

Robinhood Chain ranked tenth among all chains, behind Polygon.

Who is Winning Meme Coin Season

Solana, on both measures. It leads on volume traded and on total fees earned, and no rival is close on either.

BNB Chain is the credible number two and the sharpest earner per dollar. Its flagship token lagged, with the Chinese-language meme BinanceLife up 4.7% against a sector up 10.1%.

Robinhood Chain runs third on everything. It can still produce a mover, and its flagship Cash Cat (CASHCAT) gained 30.3% on $32.27 million of volume.

One rival sits outside the three-way frame. Base matched BNB Chain on volume at $1.255 billion.

Its economics resemble Robinhood’s, however. Base earned $189,724, converting 0.015% of volume into fees.

The clash may already have four sides. Whether Solana keeps the crown rests on a number few traders watch.

Not how much volume it attracts, but how much of that volume it converts.

Source: BeInCrypto