Solana’s 2025 Review Flags Fresh Records Across Revenue, Wallet Activity and DEX Volume

• Solana’s 2025 annual review highlights broad-based growth across core on-chain metrics, from daily active wallets to decentralized exchange (DEX) volume.

• Apps built on Solana were reported to have generated $2.39 billion in revenue in 2025, up 46% year-on-year, while the network posted $1.4 billion in revenue and a new high of 33 billion non-vote transactions.

• The report also points to new records in market activity, including $1.5 trillion in total DEX volume, $782 billion in SOL-stablecoin trading volume, and $1.02 billion of net inflows tied to newly introduced Solana ETFs.

Solana (SOL) has published its annual review for 2025, outlining a year of new all-time highs across a wide range of ecosystem and network metrics. The report points to accelerating application revenue, expanding wallet activity and rising trading volumes across both centralized-facing and decentralized venues.

Seven Solana apps clear $100 million in annual revenue

According to figures shared on X (previously Twitter), applications built on Solana generated $2.39 billion in revenue in 2025, representing a 46% year-over-year increase and a new all-time high (ATH). Seven applications—including Pumpfun—each surpassed $100 million in revenue during the year. Beyond the top performers, smaller applications earning under $100 million collectively produced more than $500 million in revenue.

The network’s own performance indicators were also described as reaching fresh peaks. Solana recorded $1.4 billion in revenue, said to be a 48-fold increase over the past two years. Non-vote transactions hit a new ATH of 33 billion, up 28% year-on-year. The chain averaged 1,054 non-vote transactions per second (TPS), while unique active wallets averaged 3.2 million per day—an increase of 50% year-on-year. In addition, Solana reportedly added 725 million new wallets.

Stablecoins, tokenized equities and Bitcoin activity set new highs

In asset-related metrics, Solana’s stablecoin supply finished the year at $14.8 billion, more than doubling from the prior year. Stablecoin transfers totaled $11.7 trillion, marking a sevenfold increase over two years.

The review also highlights the debut of equities on Solana in 2025, with supply reaching $1 billion and trading volume hitting $651 million. Bitcoin trading volume on Solana rose fivefold compared to the previous year, climbing to $33 billion and setting a new ATH. The total Bitcoin supply was also reported to have doubled to $770 million.

Staking activity moved higher as well. The report cites 421 million SOL staked, an 8% increase and another ATH. Separately, the introduction of Solana ETFs was reported to have attracted net inflows of $1.02 billion.

DEX volumes surge, with Raydium leading at $347 billion

Decentralized exchange activity was another headline point. Total DEX volume reached $1.5 trillion in 2025, a 57% year-over-year increase and an all-time high for the network’s annual review. Trading volume for SOL-stablecoins set a record at $782 billion, more than doubling year-on-year.

Twelve DEX platforms processed more than $10 billion in volume, with Raydium leading at $347 billion. The report also points to additional records: AI agent volume reached $31 billion, tokenized asset volume rose to $598 million, and project token volume increased to $86 billion.

In the memecoin and launchpad segment, memecoin volume totaled $482 billion, down 10% year-on-year. Launchpads, however, were described as having a strong year, with six platforms generating more than $1 billion in volume and launchpad revenue doubling year-on-year to $762 million.

Trading platforms also contributed meaningfully, generating $940 million in revenue—up 44% from the prior year—while the trading volume they processed reached $108 billion, a 66% year-on-year increase.

Price check: SOL rebounds, still well below its peak

At the time of writing, SOL is trading at $138.50, up 10% over the past seven days. Even with the recent recovery, it remains about 50% below its all-time high of $293, set during last year’s rally.