"Solana Surpasses Ethereum in Annual Chain Revenue This Year"

An analysis has suggested that Solana could surpass Ethereum in terms of annual chain revenue. Market attention is focused on this as the valuation criteria for blockchain networks shift from user counts or narratives to actual revenue.

According to a U.Today report on the 21st (local time), Anatoly Yakovenko (Anatoly Yakovenko), Solana's co-founder, cited recently released data and stated that Solana is outperforming Ethereum in annual revenue. He mentioned that this metric could signal a change in the value distribution structure within the crypto market.

According to data released by DeFi Development Corp., a decentralized finance developer, Solana's annual chain revenue was estimated at about 1.4 billion dollars. By the same measure, Ethereum's annual revenue was calculated at about 522 million dollars.

Yakovenko, looking back on the past year via social media, said, "Whether open and permissionless protocols can generate stable revenue over the long term remains an unresolved issue across the industry." He added that while the total market capitalization of the crypto market may continue to expand, going forward it will be "reorganized based on revenue rather than narratives or speculation."

He emphasized the importance of the execution layer for the long-term competitiveness of layer-1 blockchains. Yakovenko said, "The path for a layer-1 network to survive lies in the execution layer," and "networks that provide global, decentralized, low-latency, high-throughput, and censorship-resistant properties will be the most successful."

These remarks came amid expanding debate over the real profitability and economic activity of major blockchains. Among investors, the trend of prioritizing actual revenue-generating capability over network usage metrics is strengthening.

Solana's potential for institutional adoption has also been raised. Earlier, some figures in the financial sector mentioned that major financial firms such as BlackRock, Blackstone, and J.P. Morgan could use the Solana network as trading infrastructure in the future.

Also, market data show that Solana exchange-traded funds (ETFs) have recorded cumulative inflows of about 700 million dollars since launch. This indicates a rapid expansion in demand for Solana-related financial products over recent months.