Ethereum’s revenue has dropped significantly, while Solana continues to see remarkable growth.
Data from DeFiLlama and Token Terminal shows Ethereum’s revenue fell 92.1% in week six of 2025.
Meanwhile, Solana has outperformed Ethereum in multiple revenue metrics, fueled by increased memecoin trading and institutional adoption.
Ethereum Struggles with Revenue Decline
Ethereum experienced extreme changes in its revenue numbers during the first six weeks of 2025.
Token Terminal shows Ethereum’s revenue decreased 29.1% to $21 million in week one followed by a second-week decrease to $19 million resulting in a 7.2% drop.
The revenue increased from $43.6 million to $21 million in the third week and descended to $11.3 million in the fourth week.
Ethereum’s earnings decreased significantly, from $15 million in week five to $1.1 million in week six.
Throughout the past week, Ethereum dropped to position 17 in revenue, ranking behind two other cryptocurrencies: Solana and Tron.
The last day’s cryptocurrency earnings for Ethereum reached $461,200, which added up to $3.03 million throughout the week.
Ethereum accumulated $83.63 million monthly and sustained annual revenue at $1.836 billion.
It has failed to match up with Solana while maintaining a total value locked amount of $56.8 billion.
The Base and Arbitrum Layer-2 solutions operated by Ethereum maintain combined TVL totals of $11.5 billion and $14 billion, respectively.
Solana Sees Massive Revenue Growth
Solana maintains a robust revenue growth track that exceeds Ethereum’s performance in multiple economic indicators.
The revenue from Solana operations surpassed $3.02 million during the past day and accumulated to $15.76 million during the previous week.
The monthly revenue generated by Solana amounted to $122.08 million, which has accumulated to an annual revenue of $499.15 million.
Solana’s revenue performance remained strong throughout the crypto market’s period of reduced retail trading activity.
On February 9, Solana exceeded Ethereum by earning $8 millionin revenue, whereas Ethereum earned $875,570.
Ethereum’s TVL lead did not hinder Solana from achieving much higher revenue than its larger peer.
The growth of revenue at Solana came from increased memecoin trading activity.
Solana experienced an increase in its total revenue through the Apollo Global Management tokenization of its $1.3 billion Apollo Diversified Credit Fund (ACRED) on Solana.
Available data from Messari demonstrates that Solana generated 213% higher cumulative app revenue during Q4 2024.
Tether Leads as Top Revenue Crypto Project
Tether achieved the highest total revenue among all crypto projects during every period.
On the previous day, Tether earned $18.13 million and achieved $126.58 million in weekly revenue.
The stablecoin issuer also achieved $534.1 million in monthly revenue and $5.496 billion in annual revenue.
Tron maintained a powerful revenue position in the market. Throughout the last day, Tron cumulatively earned $1.83 million before establishing $11.61 million as its earnings during the week.
Tether reported $53.45 million as its monthly revenue, while its annual revenue reached $592.2 million.
The stablecoin provider Circle held sixth place in terms of revenue among the leading cryptocurrency projects.
The company obtained $5.88 million through its 24-hour operation and accumulated $40.89 million weekly revenue.
The revenues generated by Circle reached $162.02 million per month while exceeding $1.476 billion annually.
Application programming on the Solana network generates revenue at a higher level than similar Ethereum-based decentralized applications.
According to DeFiLlama data on January 10, Solana applications produced revenue ten times greater than Ethereum applications.
Layer-2 solutions implemented by Ethereum could not reduce the financial difference between Ethereum and its blockchain network.
The total value locked on Ethereum remained higher, but Solana applications generated more revenue from their operations.
The Solana ecosystem expanded because its trading activity increased as more institutions started using its solutions.
Solana’s recent revenue growth demonstrated its increasing competitiveness in the blockchain industry.
