Hyperliquid and BNB Chain have significantly increased their share of Layer 1 blockchain fees, driven by a surge in derivatives trading. Hyperliquid now accounts for over 40% of these fees, while BNB Chain holds more than 20%. In contrast, Solana's fee share has plummeted from over 50% at the start of the year to just 9%, largely due to a cooling memecoin trading ecosystem, particularly following the launch of the TRUMP token. The higher fees generated per derivatives transaction compared to memecoin trades have contributed to this shift. Additionally, BNB Chain has benefited from traffic driven by Binance Alpha and Binance Wallet.