Solana’s community continues to indicate sudden resilience, in keeping with new analysis from Matt Mena, a crypto analysis strategist at 21Shares.
In a weblog put up printed Monday, Mena stated Solana generated roughly $2.85 billion in annual income from October 2024 by means of September 2025, cementing its place as one among crypto’s fastest-growing blockchain economies. He described the income as “remarkably strong,” even because the speculative memecoin frenzy that drove early-year buying and selling volumes has cooled.
Mena attributed Solana’s power to its broad mixture of exercise. He stated decentralized exchanges, buying and selling instruments, lending apps, wallets, and rising sectors like DePIN and AI-driven purposes all contributed meaningfully to community charges and utilization.
While buying and selling instruments reminiscent of Photon and Axiom led the way in which — collectively producing about $1.12 billion, or 39% of complete income — Mena emphasised that Solana’s worth now comes from its variety somewhat than a single pattern.
Even after the height months of late 2024, Mena famous that Solana’s month-to-month revenues have stabilized between $150 million and $250 million, suggesting sustained demand for blockspace and exercise past speculative surges.
He in contrast the community’s complete income to Palantir’s $2.8 billion and Robinhood’s $2.95 billion in 2024, saying Solana is “approaching the scale of major Web2 platforms.”
Mena additionally contrasted Solana’s place with Ethereum’s earlier stage of growth.
He stated that 4 to 5 years after launch — roughly the place Solana is now — Ethereum averaged lower than $10 million per 30 days in income, highlighting how rapidly Solana has monetized onchain utilization. He credited the blockchain’s excessive throughput, low transaction charges, and rising ecosystem for accelerating adoption.
According to Mena, Solana’s evolution displays a shift from resilience to readiness.
He pointed to approaching technical upgrades reminiscent of Firedancer and Alpenglow that purpose to reinforce pace and scalability, including that these advances might place Solana for larger institutional participation.
“Solana is no longer an experiment,” Mena wrote. “It’s a functioning digital economy showing real staying power.”
