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Solana’s web continues to amusement unexpected resilience, according to caller probe from Matt Mena, a crypto probe strategist astatine 21Shares.
In a blog post published Monday, Mena said Solana generated astir $2.85 cardinal successful yearly gross from October 2024 done September 2025, cementing its presumption arsenic 1 of crypto’s fastest-growing blockchain economies. He described the gross arsenic “remarkably strong,” adjacent arsenic the speculative memecoin frenzy that drove early-year trading volumes has cooled.
Mena attributed Solana’s spot to its wide premix of activity. He said decentralized exchanges, trading tools, lending apps, wallets, and emerging sectors similar DePIN and AI-driven applications each contributed meaningfully to web fees and usage.
While trading tools specified arsenic Photon and Axiom led the mode — collectively generating astir $1.12 billion, oregon 39% of full gross — Mena emphasized that Solana’s worth present comes from its diverseness alternatively than a azygous trend.
Even aft the highest months of precocious 2024, Mena noted that Solana’s monthly revenues person stabilized betwixt $150 cardinal and $250 million, suggesting sustained request for blockspace and enactment beyond speculative surges.
He compared the network’s full gross to Palantir’s $2.8 cardinal and Robinhood’s $2.95 cardinal successful 2024, saying Solana is “approaching the standard of large Web2 platforms.”
Mena besides contrasted Solana’s presumption with Ethereum’s earlier signifier of development.
He said that 4 to 5 years aft motorboat — astir wherever Solana is present — Ethereum averaged little than $10 cardinal per period successful revenue, highlighting however rapidly Solana has monetized onchain usage. He credited the blockchain’s precocious throughput, debased transaction fees, and increasing ecosystem for accelerating adoption.
According to Mena, Solana’s improvement reflects a displacement from resilience to readiness.
He pointed to upcoming method upgrades specified arsenic Firedancer and Alpenglow that purpose to heighten velocity and scalability, adding that these advances could presumption Solana for greater organization participation.
“Solana is nary longer an experiment,” Mena wrote. “It’s a functioning integer system showing existent staying power.”
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