- Solana $2.85 billion annual revenue outpaces Ethereum’s early growth, solidifying its position as a top blockchain network.
- With ETF approvals and corporate reserves rising, solana’s dominance continues to strengthen.
Solana has achieved a major milestone, generating $2.85 billion in annual fee revenue between October 2024 and September 2025. A report by 21Shares shows that the network’s success was mainly driven by trading platforms, which contributed about $1.12 billion or 39% of the total. During January 2025, solana reached its revenue peak of $616 million amid a surge in meme coin trading before stabilizing between $150 million and $250 million monthly.
Expanding Ecosystem Fuels solana’s Growth
Solana’s revenue growth was not limited to trading alone. The network saw increased activity across multiple sectors such as DeFi, meme coins, AI applications, decentralized exchanges, and DePIN. This diverse participation highlights solana’s position as a leading blockchain that offers both speed and affordability — qualities that continue to attract developers and investors.
Solana Outpaces Ethereum in Early-Stage Performance
Analysts from 21Shares noted that solana has far outperformed Ethereum when comparing both networks at a similar point in their development. Five years after Ethereum launched, its monthly revenue did not exceed $10 million. In contrast, solana’s average monthly revenue reached an impressive $240 million. The network also records between 1.2 million and 1.5 million active daily addresses — roughly three times more than Ethereum had at the same stage.
Corporate Reserves Strengthen solana’s Market Presence
Institutional interest in solana continues to rise. Data from Strategic SOL Reserve reveals that 18 public companies now hold a combined 17.8 million SOL tokens, valued at around $4 billion.
Among them, Forward Industries holds 6.8 million SOL, while Sharps Technology owns 2.1 million SOL. These companies are positioning themselves as corporate treasuries centered on solana, showing growing confidence in its future.
ETF Approvals Could Push solana Even Higher
The U.S. Securities and Exchange Commission (SEC) is reviewing several applications for spot solana ETFs from major firms like Fidelity, VanEck, and Grayscale. A possible U.S. government shutdown could delay the SEC’s review process. However, Polymarket traders predict a 99% likelihood of solana ETF approval by the end of 2025.
Big week for Solana.
The final deadline for spot $SOL ETF approval is just 4 days away.
High chances we get the approval this week. pic.twitter.com/nAVUr2g7PC
— Lark Davis (@TheCryptoLark) October 6, 2025
Forward Industries has also announced plans to sell $4 billion worth of shares to expand its solana holdings — another sign of the growing institutional trust in the “people’s cryptocurrency.”
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