Solana’s $ 2.85b income is Palatir, Robinhood in the middle of the Waning Memecoin Craze
Solana’s network continues to show unexpected stability, according to new research from Matt Mena, a strategic crypto research at 21shares.
In a Blog post Published Monday, Mena said Solana has formed nearly $ 2.85 billion in annual income from October 2024 to September 2025, cementing its position as one of the fastest growing economies of the Blockchain of Crypto. He described the revenue as “very strong,” even the imaginary Memecoin Frenzy that pushed early-year-old trading volumes.
Mena expressed Solana’s strength in a broad mix of activity. He said decentralized exchanges, trading tools, lending apps, wallets, and emerging sectors such as depin and AI-Drive applications that all contributed to network fees and use.
While trading tools such as Photon and Axiom lead the way – together – together make up about $ 1.12 billion, or 39% of total income – Mena emphasized that Solana’s value came from its difference – rather than a single trend.
Even after the peak months of late 2024, Mena noted that Solana’s monthly income has established between $ 150 million and $ 250 million, suggesting prolonged demand for blockspace and activity beyond the imaginations.
He compared the network’s total revenue to Palantir’s $ 2.8 billion and Palantir’s $ 2.95 billion in 2024, saying Solana was “approaching the size of the major web2 platforms.”
Mena also compared Solana’s position to the earlier phase of Ethereum’s development.
He said four to five years after the launch – almost where Solana is today – Ethereum has averaged less than $ 10 million per month in revenue, emphasizing how quickly Solana has been able to use OnChain. He identified the high -throughput of the blockchain, low transaction fees, and growing ecosystems for accelerating the adoption.
According to Mena, Solana’s evolution reflects a move from stability to readiness.
He pointed out the upcoming technical upgrades such as firedancer and alphabet aimed at enhancing speed and scalability, increasing that these advances could be in solana for more institutional participation.
“Solana is no longer an experiment,” Mena wrote. “It is a working digital economy that shows true staying power.”
