Solana earns $2.85 billion as analysts compare growth to Ethereum
Solana (CRYPTO:SOL) recorded $2.85 billion in annual revenue over the past year, according to a recent report by Swiss asset manager 21Shares, marking one of the network’s strongest financial years as it expands its ecosystem across decentralised finance (DeFi), artificial intelligence (AI), and trading platforms.
Based on the data from 21Shares, Solana averaged roughly $240 million in monthly revenue between October 2024 and September 2025, with a peak of $616 million in January during a surge in memecoin trading, led by tokens such as Official Trump (CRYPTO:TRUMP).
Even after the hype around memecoins declined, Solana maintained a stable performance, generating between $150 million and $250 million in monthly revenue.
“Solana’s consistent revenue stream highlights the network’s growing role in institutional and retail blockchain activity,” according to 21Shares.
Revenue on the Solana network primarily comes from validator fees across multiple sectors, including DeFi protocols, AI-powered applications, decentralised exchanges, DePIN projects, launchpads, and trading tools.
Trading platforms remain the leading contributors, accounting for about 39% or $1.12 billion of total revenue.
Applications such as Photon and Axiom were among the most active drivers within this category.
The report compared Solana’s progress with Ethereum’s early development, noting that five years after its launch, Ethereum was generating less than $10 million per month.
In contrast, Solana’s monthly revenue now stands at 20 to 30 times higher.
21Shares explained that Solana’s efficiency, scalability, and relatively low transaction costs have attracted between 1.2 million and 1.5 million daily active addresses, which is approximately three times more than Ethereum had at the same stage of growth.
The report also highlighted the rising number of Solana treasury companies.
Leading holders include Forward Industries with 6.82 million SOL, followed by Sharps Technology with 2.14 million SOL.
At the time of reporting, the Solana price was $220.33.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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