TLDR
- Solana’s revenue reached $2.85 billion from October 2024 to September 2025.
- Trading platforms contributed $1.12 billion, 39% of Solana’s total revenue.
- Solana has 1.2 to 1.5 million daily active addresses, triple Ethereum’s at the same stage.
- Nearly $4 billion in SOL is held on public company balance sheets this year.
Solana has generated $2.85 billion in revenue over the past year, according to a recent report from 21Shares. This performance reflects the network’s substantial growth, largely driven by activity on trading platforms.
Between October 2024 and September 2025, Solana’s monthly revenue averaged approximately $240 million, with a notable peak of $616 million in January 2025 during the memecoin surge. Despite a decrease in memecoin trading activity, monthly revenue remained consistently strong, fluctuating between $150 million and $250 million.
Trading Platforms Fuel Revenue Growth
Trading platforms have been the primary source of Solana’s revenue, contributing to 39% of the total, or around $1.12 billion. Popular applications such as Photon and Axiom have played a significant role in this figure. As decentralized finance (DeFi), AI applications, and decentralized exchanges (DEX) continue to develop, they also contribute revenue from transaction fees. This diverse revenue stream, spanning from memecoins to DePIN and launchpads, highlights Solana’s growing ecosystem.
Meanwhile, Solana validators earn revenue through transaction fees, benefiting from the blockchain’s increasing adoption across various sectors. This revenue is sourced from different areas of the ecosystem, from trading to decentralized finance applications. Solana’s low fees and efficient design have made it an attractive platform for developers and users, boosting its revenue potential.
Solana Outpaces Ethereum in Revenue Growth
Notably, Solana is outpacing Ethereum in terms of revenue generation at a comparable stage. While Ethereum was generating less than $10 million per month five years after its launch, Solana currently earns 20 to 30 times that amount. Solana’s impressive performance is supported by its ability to handle a high volume of transactions efficiently, which has drawn in approximately 1.2 to 1.5 million daily active addresses. This figure is roughly three times the number Ethereum had at a similar point in its development.
The report also highlights that Solana’s growth has not gone unnoticed in the corporate world. Several companies have rebranded to focus on Solana’s ecosystem, resulting in nearly $4 billion in SOL held on public company balance sheets. On September 18, Nasdaq-listed Brera Holdings rebranded to Solmate, following a $300 million PIPE raise aimed at building a Solana-focused digital asset platform.
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