Recent analysis by 21Shares reveals a dramatic shift in Solana’s revenue trajectory. The blockchain platform has generated over $2.85 billion in revenue during the past year (ending September 2025), exceeding $240 million per month on average. This is a staggering 20-30 times higher than Ethereum’s monthly income during its fourth and fifth years of operation (2019-2020), when it earned under $10 million per month. This explosive growth can be attributed to a combination of factors, including thriving trading platforms, high-frequency swap tools, and a growing DeFi ecosystem. Trading fees alone account for over 39% of Solana’s revenue, fueled by platforms like Photon and Axiom which handle complex trades. Notably, the rise of memecoin trading in late 2024 led to record monthly revenue exceeding $616 million, with subsequent peaks settling around $150-250 million. The report highlights Solana’s comparable annual revenue, reaching levels near those of large tech firms like Palantir and Robinhood. This surge in revenue is driven by Solana’s high throughput and low transaction fees, allowing it to capture a much larger share of on-chain activity compared to Ethereum at the same stage of development. Solana’s ecosystem is further bolstered by increasing institutional backing, with publicly traded firms holding over $3 billion worth of SOL tokens. This trend is reflected in companies like Forward Industries, Pantera, and Brera (Solmate) who have adopted a Solana-centric approach. The SEC’s upcoming decision on a US spot SOL ETF could further unlock wider investor access to the network. As 21Shares points out, Solana’s growth has moved it “from resilience to readiness.” With robust activity, growing institutional support, and high throughput, Solana is emerging as a strong competitor to Ethereum and driving significant economic growth.