Solana has achieved a significant milestone in its financial growth, generating over $2.85 billion in revenue from October 2024 to September 2025. Driven by robust trading activity and thriving ecosystem applications, this success has positioned Solana as a leading force in the crypto markets. Trading platforms like Photon and Axiom have played a crucial role in driving this revenue surge, particularly during periods of increased meme coin volatility. 21Shares’ report highlights that Solana’s monthly revenue averages around $240 million, reaching a peak of $616 million during the 2023 meme coin frenzy sparked by tokens like TRUMP. Even with the hype subsiding, its consistent activity has led to stable monthly revenue between $150 million and $250 million. Solana’s success stems from efficient transaction processing fees across diverse use cases such as DeFi, DEXes, memecoins, AI applications, DePIN, launchpads, and trading tools. Trading platforms account for the majority of its revenue, accounting for roughly $1.12 billion. 21Shares, a prominent Swiss-based asset manager and a leading provider of crypto exchange-traded products (ETPs), launched the first European Solana (SOL) ETP in 2021, reflecting substantial institutional interest in Solana’s development. Solana ETFs and Corporate Holdings: Several companies have strategically rebranded or established treasury holdings in SOL with nearly $4 billion currently held across various public firms. Notably, Nasdaq-listed Brera Holdings rebranded to Solmate following a successful $300 million oversubscribed PIPE fundraising round. This move focuses on developing a dedicated Solana-focused digital asset treasury and infrastructure platform. Key players like Forward Industries (6.8 million SOL tokens) and Sharps Technology (2.1 million SOL) hold substantial amounts of SOL, demonstrating its increasing adoption within the industry. A robust pipeline of Solana ETFs awaits approval in the United States. If successful, these will propel retail and institutional participation in Solana-based assets. The market remains optimistic about regulatory hurdles being overcome. This optimism, driven by platform activity and firm confidence, promises a transformative year for Solana and the broader DeFi ecosystem.