In the past 12 months, Solana has generated over $2.85 billion in revenue, increasing this figure by 220 times compared to results from two years ago. The main drivers were DeFi, meme coins, trading services, artificial intelligence, and DePIN solutions.
This is reported by Business • Media
Rapid Revenue Growth and Sources of Solana’s Profit
From October 2024 to September 2025, the Solana blockchain network demonstrated a record annual revenue of over $2.85 billion. According to an analytical report, the most significant growth was observed in January 2025, when monthly revenue reached $616 million, primarily due to activity surrounding meme coins, particularly the launch of Trump Coin (TRUMP).
Despite a slight decline after the peak period, the Solana network consistently generates $150-250 million in revenue each month. The primary contribution to the total revenue comes from on-chain trading services. Over the year, these services generated $1.12 billion, accounting for 39% of the total amount. In January 2025, the Photon and Axiom platforms collectively contributed around $260 million in revenue.
Experts also noted that in terms of annual revenue, Solana is approaching companies like Palantir ($2.8 billion) and Robinhood ($2.95 billion). In comparison, just two years ago, from October 2022 to September 2023, the network’s annual revenue was only $13 million. Thus, over the past year or two, Solana has increased this figure by 220 times.
Public companies currently hold over $3 billion in Solana tokens on their balance sheets. Additionally, the U.S. Securities and Exchange Commission is already reviewing an application to create a spot ETF for Solana.
Solana Outpaces Ethereum at an Early Stage
According to analytics, at a similar stage of development in 2019-2020, Ethereum had a monthly revenue of around $10 million. In contrast, Solana’s current figures exceed these volumes by 20-30 times, and in some months, even by over 50 times. Moreover, Solana operates in a significantly tougher market competition: in 2025, the number of active addresses in the network reached 1.2-1.5 million per day, while Ethereum had about 500,000 during 2019-2020.
“Solana currently exceeds these figures by 20-30 times, and in certain months — by over 50 times”.
Previously, Bitwise Asset Management’s Chief Investment Officer Matt Hougan characterized Solana as “the new Wall Street,” highlighting the key technological advantages and the network’s appeal to institutional investors.
