Solana has exceeded Ethereum’s early growth trajectory, achieving a record-breaking $2.85 billion in annual revenue between October 2024 and September 2025 according to a new report by 21Shares. This marks the network’s significant leap as it reaches maturity and showcases strong performance across various sectors of its ecosystem. Monthly revenue averaged $240 million, peaking at a staggering $616 million during January’s memecoin frenzy driven by tokens like Official Trump (TRUMP). While this was followed by stabilization, trading and DeFi platforms remained the primary drivers for this substantial income.
Solana validators earn revenue through transaction fees, contributing heavily to DEXs, DeFi protocols, AI apps, DePIN, and launchpads. Trading platforms are key contributors, accounting for 39% of total earnings – a testament to high-frequency trading volumes and retail participation.