{"id":73441,"date":"2026-06-02T12:25:55","date_gmt":"2026-06-02T12:25:55","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/solana-tops-all-blockchains-with-91-million-in-may-app-revenue-beating-ethereum\/"},"modified":"2026-06-02T12:25:55","modified_gmt":"2026-06-02T12:25:55","slug":"solana-tops-all-blockchains-with-91-million-in-may-app-revenue-beating-ethereum","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/solana-tops-all-blockchains-with-91-million-in-may-app-revenue-beating-ethereum\/","title":{"rendered":"Solana Tops All Blockchains With $91 Million in May App Revenue, Beating Ethereum"},"content":{"rendered":"<p><b>(Originally posted on : Bitcoin News )<\/b><br \/>\n<\/p>\n<div>\n<p><span style=\"font-weight:400\"><\/p>\n<div class=\"@container mb-[25px] rounded-sm overflow-clip py-0.5 pr-0.5 pl-2.5 bg-success-100\">\n<div class=\"flex flex-col gap-m overflow-clip rounded-[6px] !bg-success-10 p-3 @[420px]:p-m\">\n<h2 class=\"m-0 flex items-center gap-s text-[19px] !text-[#1c1c1c] md:text-[20px]\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"16\" height=\"10\" viewbox=\"0 0 16 10\" fill=\"none\" class=\"shrink-0 text-success-100\" aria-hidden=\"true\"><path d=\"M1 1.5h14\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><path d=\"M1 8.5h10\" stroke=\"currentColor\" stroke-width=\"2.5\" stroke-linecap=\"round\"\/><\/svg><span>Key Takeaways<\/span><\/h2>\n<ul class=\"m-0 flex list-none flex-col gap-m pl-0\">\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Solana booked $91M in May app revenue, ahead of Hyperliquid at $53M and Ethereum at $52M.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">SOL trades near $81 after eight straight red months, even as its fee revenue leads every chain.<\/span><\/li>\n<li class=\"m-0 flex items-start gap-s !text-[#434248]\"><span class=\"mt-2 size-2 shrink-0 rounded-full bg-success-100\" aria-hidden=\"true\"\/><span class=\"text-body\">Sustained fee dominance could bolster the case for Solana ETFs, which have drawn about $1.13B.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n<p><\/span><\/p>\n<h2><span style=\"font-weight:400\"> <span>Solana<\/span> out-Earns Every <span>Layer 1<\/span> and <span>Layer 2<\/span><\/span><\/h2>\n<p><span style=\"font-weight:400\"> <span>Solana<\/span> booked $91 million for the month, placing it ahead of the Hyperliquid L1 at $53 million, Ethereum at $52 million, Polygon at $26 million, and Base at $23 million. <\/span><span style=\"font-weight:400\">Application revenue measures the fees that <span>decentralized applications<\/span>, such as trading platforms and token launchpads, retain from their users.<\/span><\/p>\n<p><span style=\"font-weight:400\">It is a narrower gauge than total network fees, and analysts often treat it as a proxy for how much real economic activity a chain is hosting rather than how much speculative throughput it processes.<\/span><\/p>\n<figure id=\"attachment_819333\" aria-describedby=\"caption-attachment-819333\" style=\"width:2560px\" class=\"wp-caption aligncenter\"><figcaption id=\"caption-attachment-819333\" class=\"wp-caption-text\">App revenue by chain (stacked monthly), per Defillama<\/figcaption><\/figure>\n<p><span style=\"font-weight:400\">The May figure was not a one-off as just a month prior, <span>Solana<\/span> has posted the highest weekly application revenue of any chain for <\/span><a href=\"https:\/\/www.thestreet.com\/crypto\/markets\/solana-surpasses-ethereum-in-weekly-dapp-revenue-for-5th-week\" target=\"_blank\" rel=\"noopener noreferrer\"><span style=\"font-weight:400\">five weeks running<\/span><\/a><span style=\"font-weight:400\">, a stretch in which it recorded $16.94 million in a single week against Ethereum\u2019s $13.55 million. <\/span><\/p>\n<p><span style=\"font-weight:400\">Much of the activity has been concentrated in <span>Solana<\/span>\u2019s trading and token-creation venues, where <span>memecoin<\/span> speculation and high-frequency swaps drive fee generation. That said, those same venues can cool quickly when markets turn.<\/span><\/p>\n<h2><span style=\"font-weight:400\">Revenue Strength Meets a Weak <span>SOL<\/span> Price<\/span><\/h2>\n<p><span style=\"font-weight:400\">The fee dominance stands in sharp contrast to <span>SOL<\/span>\u2019s ongoing price performance as the token has recently been trading near $81 after posting <\/span><a href=\"https:\/\/news.bitcoin.com\/solana-posts-8-consecutive-red-months-for-first-time-as-traders-watch-80-support\/\"><span style=\"font-weight:400\">eight consecutive red monthly candles<\/span><\/a><span style=\"font-weight:400\">, the first such streak in its history, and has shed tens of billions of dollars in market value from its 2025 peak.<\/span><\/p>\n<p><span style=\"font-weight:400\">That split between strong fundamentals and a soft chart is a recurring theme for <span>Solana<\/span> this year, despite the network\u2019s ecosystem revenue reaching a record <\/span><a href=\"https:\/\/news.bitcoin.com\/solanas-ecosystem-hits-2-39-billion-revenue-high-in-2025\/\"><span style=\"font-weight:400\">$2.39 billion<\/span><\/a><span style=\"font-weight:400\"> in 2025. Not only that, its <\/span><a href=\"https:\/\/news.bitcoin.com\/solana-real-world-assets-hit-2b-as-tokenized-assets-fuel-ecosystem-growth\/\"><span style=\"font-weight:400\">tokenized real-world assets<\/span><\/a><span style=\"font-weight:400\"> climbed past $2 billion earlier this year, yet <span>SOL<\/span> struggled to hold support (as broader <span>crypto<\/span> markets retreated).<\/span><\/p>\n<p><span style=\"font-weight:400\">Institutional channels have remained more constructive. U.S. spot <span>Solana<\/span> exchange-traded funds (ETFs) have absorbed roughly $1.13 billion in cumulative net inflows since launch, and <span>Solana<\/span> products have <\/span><a href=\"https:\/\/news.bitcoin.com\/blackrock-drives-331m-bitcoin-etf-outflow-as-xrp-and-solana-funds-attract-inflows\/\"><span style=\"font-weight:400\">continued to attract money<\/span><\/a><span style=\"font-weight:400\"> even on days when <span>bitcoin<\/span> funds bled, suggesting some investors are treating the weakness as an entry point rather than an exit.<\/span><\/p>\n<p><span style=\"font-weight:400\">Still, revenue leadership and ETF demand have not been enough to break the monthly losing streak. Network usage stayed elevated through the downturn, with <a href=\"https:\/\/markets.bitcoin.com\/crypto\/solana?utm_source=bitcoin_news\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Solana<\/a> processing tens of millions of transactions a day, but fees alone have not reversed the price trend.<\/span><\/p>\n<p><span style=\"font-weight:400\">Looking ahead, if trading volumes hold and the fee lead extends into a sixth and seventh week, the case that <a href=\"https:\/\/markets.bitcoin.com\/crypto\/solana?utm_source=bitcoin_news\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">Solana<\/a> is the most-used settlement layer in <a href=\"http:\/\/www.bitcoin.com\/get-started\/a-quick-introduction-to-crypto\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">crypto<\/a> becomes harder to dismiss, and that argument could feed the next round of ETF marketing and treasury allocations. However, i<\/span><span style=\"font-weight:400\">f the <a href=\"http:\/\/www.bitcoin.com\/get-started\/what-is-a-memecoin\/\" class=\"lar_link lar_link_outgoing\" target=\"_blank\" rel=\"noopener noreferrer\">memecoin<\/a> churn that underpins much of the revenue fades, the figures could compress as quickly as they rose. <\/span><\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/news.bitcoin.com\/solana-tops-may-app-revenue-defillama\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Bitcoin News ) Key Takeaways Solana booked $91M in May app revenue, ahead of Hyperliquid at $53M and Ethereum at $52M. SOL trades near $81 after eight straight red months, even as its fee revenue leads every chain. Sustained fee dominance could bolster the case for Solana ETFs, which have drawn [&hellip;]<\/p>\n","protected":false},"author":3947362404,"featured_media":73442,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[32],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73441"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362404"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=73441"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/73441\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/73442"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=73441"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=73441"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=73441"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}