Solana Revenue Surges to $87M Despite Price Drop

Solana continues to make headlines, this time not for its price performance, but for its incredible network revenue. 

Even as SOL's price dips due to weak U.S. job data and bearish macroeconomic sentiment, Solana revenue in July 2025 hit an impressive $87 million, surpassing both Ethereum and Bitcoin. 

This consistent revenue growth showcases Solana's strong fundamentals, signaling that the blockchain remains highly active and economically viable, despite recent price pressure.

Solana Revenue Surges

SOL price closed at $166.23 on Friday, marking its fifth straight day of decline. The token is now down about 16% from its Monday peak of $182, currently sitting at a two-week low. 

Much of this downward pressure comes from disappointing U.S. non-farm payroll data, which revealed only 73,000 jobs added in July, far below the 110,000 expected. 

These numbers shook investor confidence and dimmed hopes for interest rate cuts, pushing risk assets like cryptocurrencies lower.

However, while the price action may look bearish, Solana’s on-chain activity remains remarkably healthy. Solana generated $87 million in network revenue in July alone, more than Tron ($61M), Ethereum ($55M), and Bitcoin DeFi ($16M) combined.

Read Also: How to Buy Solana (SOL)

What's Driving Solana Revenue Surges?

So, what’s driving Solana revenue surges? Here’s what you need to know:

1. High On-Chain Usage

Solana continues to dominate when it comes to active users and transaction volumes, especially among Layer 1 and Layer 2 blockchains. 

This consistent on-chain engagement contributes to high gas fee revenue, much of which goes directly to validators and stakers, creating strong incentives to hold SOL.

2. Institutional Interest

Following the U.S. SEC's recent approval of crypto staking in ETFs, interest in Solana's staking ecosystem has grown. 

Large firms like Sol Strategies, which manages over $500 million in SOL-based assets, see revenue distribution as a reason to double down on the blockchain. If pending altcoin ETF reviews receive a green light, institutional inflows could further boost demand for SOL.

3. Robust Staking Incentives

As a proof-of-stake network, most of Solana’s network fees are shared with stakers. This makes it particularly attractive for both retail and institutional players looking for passive income streams in crypto.

Read Also: Convert 1 SOL to USD - Solana to United States Dollar

Solana Price Technical Analysis

While fundamentals are strong, technical indicators show caution in the short term. SOL has slipped below its 20-day EMA of $179.41, and Friday’s red candle formed in the lower range of the Bollinger Bands, now between $157.43 and $201.39. 

Meanwhile, the MACD confirms the bearish trend, although shrinking histogram bars hint that the momentum may be fading. 

The immediate support lies at $160, which coincides with the lower Bollinger Band and a key psychological level. If SOL fails to hold this support, the next possible drop could take it down to $150, a zone that served as a pivotal level in mid-July. 

Conversely, if the $160 level holds and macro sentiment improves, SOL could rebound toward $182, with a potential breakout above $190 if staking activity picks up.

Read Also: Solana Price Analysis: Can it Go Above $300?

Conclusion

Despite recent price weakness, Solana revenue is setting new benchmarks, solidifying its position as the top Layer 1 chain in terms of economic activity. 

Its ability to generate higher network income than Ethereum and Bitcoin, even during market uncertainty, reflects long-term potential. For now, all eyes are on the $160 support level. 

If SOL holds, this could be an ideal entry point for long-term believers, especially as institutional interest in staking grows and ETF-related optimism returns to the market.

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FAQ

What is Solana’s network revenue in July 2025?

Solana generated $87 million in network revenue in July 2025, making it the highest-earning Layer 1 blockchain that month.

How does Solana’s revenue compare to Ethereum and Bitcoin?

In July 2025, Ethereum earned $55 million, while Bitcoin’s DeFi revenue totaled $16 million. Solana outperformed both, emphasizing its growing dominance.

Why is Solana’s price falling despite high revenue?

The price drop is mainly due to macro factors, such as disappointing U.S. job data that reduced investor risk appetite. The decline isn’t reflective of Solana’s on-chain performance.

What is the significance of the $160 support level?

$160 is a critical technical support for SOL. If the price holds above it, a rebound is possible. A drop below this level could trigger further downside toward $150.

Is Solana a good investment based on revenue?

High and consistent network revenue can indicate a strong and active ecosystem. While price action may vary, Solana’s fundamentals suggest long-term potential, especially if staking-based ETFs gain more traction.