Solana is outpacing Ethereum’s early growth, generating $2.85 billion in revenue over the past year—more than 20 times what Ethereum earned at a comparable stage in its lifecycle.
Summary
- Trading tools drove $1.12 billion (39% of total revenue), with January 2025 hitting a record $616 million in monthly revenue.
- Solana now averages 1.2–1.5 million daily active addresses, far exceeding Ethereum’s 400,000–500,000 during a similar stage.
According to a recent report by 21Shares, Solana (SOL) generated $2.85 billion in revenue over the past year, with trading tools alone contributing $1.12 billion, or 39% of the total.
Platforms like Photon and Axiom, which offer faster swaps and advanced execution features, drove much of that growth — generating as much as $260 million in a single month during the peak of the memecoin craze in January (which was the network’s highest monthly revenue on record, with total revenue exceeding $616 million.)
Even after the January spike, Solana continued to generate $150 million–$250 million per month, reflecting strong and sustained demand for its low-cost, high-speed infrastructure.
Solana’s growth outpaces Ethereum
By comparison, Ethereum (ETH), at a similar stage in its lifecycle, generated far less revenue. Between 2019 and 2020, roughly 4 to 5 years after its launch, Ethereum’s monthly revenue averaged under $10 million, constrained by lower adoption, network congestion, and gas fees. Daily active addresses on Ethereum during that period hovered around 400,000–500,000, significantly below Solana’s current 1.2–1.5 million.
According to the 2
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Author: Darya Nassedkina
