Solana’s revenue engine has taken off faster than anyone anticipated, surpassing Ethereum’s early growth trajectory in a way that signals a significant shift in the blockchain landscape. The report from 21Shares reveals Solana generated nearly $2.85 billion in revenue between October 2024 and September 2025, averaging over $240 million per month. This substantial surge can be attributed to Solana’s success across multiple revenue streams beyond just trading, including DeFi, AI, and real-world asset (RWA) applications. 21Shares highlights that trading platforms like Photon and Axiom played a major role in generating nearly $1.12 billion – a significant chunk of the total revenue. This diversified ecosystem has contributed to Solana’s current monthly revenue ranging from $150 million to $250 million, demonstrating its long-term sustainability.