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Solana surges as blockchain revenue sets new records
The Solana blockchain network is surging into the lead. This altcoin now appears poised to surpass Ethereum, the world’s second-largest cryptocurrency by market capitalization. For Solana, this could be a breakout moment.
In the first quarter of 2025, Solana’s blockchain revenue hit a staggering $369.5 million, which already accounts for 50% of its total revenue in 2024. Analysts see this as a sign of Solana’s performance outpacing Ethereum’s: Ethereum’s revenue in the first quarter of 2025 was $220.8 million.
Just five years ago, Solana’s revenue barely exceeded $1 million. A turning point came in 2021, when it reached $28.2 million. After a slight slowdown to $26.3 million in 2022 and $25.6 million in 2023, the year 2024 saw an explosive surge, hitting $750.7 million. The momentum has carried into 2025.
Experts now anticipate Solana’s annual revenue to overcome Ethereum’s for the year. Solana’s rapid ascent is fueled by its high scalability, low transaction fees, and ability to handle large transaction volumes. These strengths have driven its remarkable revenue growth.
By contrast, Ethereum’s revenue peaked at $9.9 billion in 2021, followed by a steady decline to $4.2 billion in 2022, $2.40 billion in 2023, and a modest rebound to $2.47 billion in 2024. In the first quarter of 2025, Ethereum’s revenue stood at $220.8 million.
While Solana’s market capitalization is still lower than Ethereum’s, its growth is undeniable. Optimism runs high in the Solana community, with both analysts and investors expecting the upward trend to continue through the end of 2025.
Published 25 April 2025
© InstaFintech Group
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© InstaFintech Group
