CMC News

#Solana Revenue Hits $2.85B, Outpaces Early #Ethereum

Solana has generated $2.85 billion in annual revenue driven by trading platforms, surpassing #Ethereum's performance at a comparable lifecycle stage by 20-30 times.

Asset management firm 21Shares released a report showing Solana averaged approximately $240 million in monthly revenue between October 2024 and September 2025. Revenue peaked at $616 million in January during the meme coin surge led by tokens including Official Trump.

Monthly revenue stabilized between $150 million and $250 million after the frenzy cooled. Solana validators earn revenue from transaction fees flowing across the ecosystem, including #DeFi, #memecoins, AI applications, decentralized exchanges, DePIN, launchpads, and trading tools.

Trading platforms account for 39% of Solana's revenue engine, generating $1.12 billion through applications like Photon and Axiom. The report noted Ethereum's monthly revenue remained under $10 million five years after launch, while Solana currently produces significantly more.

Network efficiency and low fees have attracted 1.2 to 1.5 million daily active addresses, roughly triple Ethereum's count at the same lifecycle point. 21Shares, a Switzerland-based company and major crypto exchange-traded product provider, launched the world's first $SOL ETP in Europe in 2021.

Several companies rebranded as $SOL treasury companies this year, resulting in nearly $4 billion in $SOL held on public company balance sheets. Nasdaq-listed Brera Holdings rebranded to Solmate on Sept. 18 following a $300 million oversubscribed PIPE raise.