Solana overtakes Ethereum in revenue for the first time thanks to Trump
Solana overtakes Ethereum in monthly revenue for the first time.
For the first time, Solana (SOL) has generated more monthly revenue than Ethereum (ETH), marking a major shift in the blockchain landscape. Solana earned $116 million in the past month, surpassing Ethereum’s $107 million, according to the latest revenue reports.
The surge represents a 96% increase in Solana’s revenue compared to December 2024, when it posted $59 million in earnings. In contrast, Ethereum saw a 39% revenue decline, highlighting diverging market dynamics between the two networks, reports Cryptopolitan.
In January 2024, Solana’s revenue was just $6 million, compared to Ethereum’s $179.6 million—underscoring its exponential growth in just one year.
Memecoin Mania and DeFi Boom Propel Solana’s Rise
Solana’s remarkable performance has been largely driven by an explosion in DeFi activity and increased adoption fueled by memecoins, particularly those associated with U.S. President Donald Trump.
On January 17, 2025, just days before his inauguration, Trump launched his official memecoin, $TRUMP, on the Solana blockchain. The token debuted under $10 but quickly soared over 300% to a peak of $72, reaching a $15 billion market cap at its height.
Adding to the frenzy, Melania Trump also launched her own token, $MELANIA, which further boosted network activity. However, the second memecoin also diverted liquidity away from $TRUMP, leading to some price fluctuations.
Despite a pullback from its all-time high, $TRUMP still trades at $24—more than 500% above its launch price, with over $2 billion in daily trading volume.
The memecoin boom also led to a 70% increase in stablecoin supply on Solana, making it the third-largest blockchain for stablecoin liquidity.
Solana’s Dominance Signals a Shift in Crypto Power
Solana’s strong performance extends beyond memecoins. The network’s speed, low transaction costs, and growing DeFi ecosystem have positioned it as a major competitor to Ethereum.
The market rally was not limited to Solana—Bitcoin also benefited from Trump’s pro-crypto stance, hitting an all-time high of $109,071 following his inauguration.
As Solana continues its meteoric rise, investors and analysts are watching closely to see if Ethereum can regain momentum or if Solana will solidify its place as the leading blockchain for DeFi and memecoins in 2025.
Recently we wrote, that 21Shares AG, a leading issuer of crypto exchange-traded products (ETPs), has announced the launch of the 21Shares Solana Core Staking ETP (CSOL) on the SIX Swiss Exchange.
