Solana's $2.85 Billion Revenue Surpasses Palantir and Robinhood

The Power of Solana: 2.85 Billion Dollars in Revenue

Matt Mena, a researcher at 21Shares, announced that the Solana network is expected to generate approximately 2.85 billion dollars in revenue from DeFi, trading tools, and new on-chain sectors between October 2024 and September 2025. Mena described Solana’s revenue as “extraordinarily strong” despite the cooling effects in memecoin trading.

Solana’s growth has reached a point where it can compete with significant Web2 firms. According to Mena, the blockchain economy now represents much more than just speculation. The researcher noted that new areas such as decentralized exchanges, trading tools, lending applications, wallets, and DePIN along with artificial intelligence powered applications have made significant contributions to the network's usage and revenue.

Leading trading tools Photon and Axiom accounted for approximately 39% of total revenue, generating a total of 1.12 billion dollars. Mena emphasized that Solana’s value now stems from its diversity rather than a single trend. Despite the peak periods towards the end of 2024, Solana’s monthly revenues stabilized between 150 million and 250 million dollars. This indicates activity beyond potential demand and speculative fluctuations.

Mena stated that Solana’s total revenue is comparable to Palantir’s 2.8 billion dollars and Robinhood’s 2.95 billion dollars, evaluating this situation as “approaching the scale of major Web2 platforms.” He also highlighted the difference with Ethereum; four to five years after Ethereum's launch, its revenue was below an average of 10 million dollars per month.

Solana has rapidly monetized its on-chain usage with high transaction capacity, low transaction fees, and a growing ecosystem. Mena noted that Solana’s evolution has transitioned into a stage of preparation for resilience. Upcoming technical updates including Firedancer and Alpenglow aim to enhance speed and scalability. He also added that these developments could position Solana for greater institutional participation.

“Solana is no longer an experiment,” Mena said, “it is a functioning digital economy that is a real economic power.”