Solana is set to flip Ethereum in revenue numbers for the first time ever. DeFi Development Corporation (DFDV) revealed that SOL is on course to surpass ETH in annual revenue for the first time. The accompanying chart shows that SOL has recorded annual revenue of $1.4 billion year-to-date (YTD), while the Ethereum network has recorded $522 million. As DFDV noted, this marks a significant shift, given that ETH surpassed SOL in previous years.
In 2024, Ethereum recorded an annual revenue of $2.5 billion, while SOL recorded $1.42 billion. Solana co-founder Anatoly Yakovenko stated that it has been a “crazy year” and noted that whether open permissionless protocols can actually grow and maintain revenue remains an open question. Yakovenko further remarked that he believes the entire crypto market cap will continue to grow and, eventually, will have to be split by revenue. He also stated that Solana and Ethereum’s only shot at this is in the execution layer.
Amid Solana’s revenue milestone over Ethereum, DeFi maxi Scribbler has declared that Solana is dying. In an X post, he noted that over 30 million people were trading on the network each month between November last year and February this year. The revenue shift underscores evolving dynamics among major chains and adds context to debates about on-chain economics and the future trajectory of SOL and ETH.
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