Solana Revenue Dips Despite DeFi TVL Surge in Q2 2025

Solana’s application revenue experienced a significant decline of 44% in the second quarter of 2025, while its Decentralized Finance (DeFi) Total Value Locked (TVL) approached all-time highs. This contrasting trend raises questions about the long-term sustainability of Solana’s ecosystem as user behavior evolves. The revenue drop alongside rising DeFi TVL indicates shifts in user and developer activities, highlighting unresolved challenges within the Solana ecosystem. [This section is from the original article.]