Solana Revenue Soars to $2.85B on DeFi and Dev Momentum
Solana’s protocol revenue surged to $2.85 billion over the past year, up from just $13 million in the 2022–2023 cycle. This rapid growth underscores Solana’s strengthening position as a Layer 1 network. The network averaged $240 million in monthly revenue and peaked above $600 million during high activity periods.
Key drivers include the ORE protocol, which generated $1 million in daily fees, and Pump.fun, which contributed $38 million in the last 30 days. These figures highlight Solana’s leading role in DeFi, memecoin trading, and overall on-chain activity.
Solana’s vibrant developer community, now numbering 10,733 active builders, creates a self-reinforcing loop: strong protocol revenue attracts more development, which in turn supports scalability upgrades such as the Firedancer client and proof-of-history enhancements.
Total value locked (TVL) on Solana exceeds $5 billion, further validating network health. Traders should monitor daily and monthly revenue trends as key indicators of on-chain activity and protocol revenue momentum. Rising fee earnings and developer engagement can signal potential SOL price appreciation over the medium to long term.
Bullish
Solana’s record protocol revenue and rising on-chain activity signal strong network demand, which typically drives token buying pressure. Short-term, traders may chase momentum as daily and monthly fee earnings climb. Long-term, sustained developer engagement and upcoming scalability upgrades (Firedancer, proof-of-history) support robust ecosystem growth. These factors combine to create bullish sentiment for SOL, as increasing TVL and revenue metrics are proven predictors of price appreciation.