The post Solana and Hyperliquid dominate 2025 chain revenue! appeared on BitcoinEthereumNews.com.

Two very different blockchain networks are emerging as the biggest revenue generators of 2025: Solana and Hyperliquid. According to CryptoRank data, Solana has generated $1.3 billion in revenue this year, placing it firmly at the top of all blockchains. Hyperliquid ranks second with $816 million.  The figures put both networks ahead of far more capital-heavy chains, including Ethereum, which posted roughly $524 million over the same period. Source: CryptoRank The rankings highlight a broader shift in 2025: on-chain value is increasingly being captured by networks optimised for execution and throughput rather than sheer liquidity depth. Solana leads revenue with stable capital base Throughout 2025, Solana’s Total Value Locked has remained broadly range-bound. It fluctuates between roughly $7 billion and $12 billion, according to DeFi data.  Despite the lack of sustained TVL expansion, transaction volumes have remained consistently high, with several mid-year spikes. That combination suggests Solana is extracting more revenue per unit of capital, rather than relying on liquidity growth to drive fees.  High-frequency usage across decentralized exchanges, consumer applications, memecoin trading, and DePIN-related activity has directly translated into fee generation. Social sentiment data adds another layer to the picture. Weighted sentiment around SOL has been highly volatile this year, frequently swinging between positive and negative territory and spending long stretches near neutral. Source: Santiment Yet those sentiment shifts have had little visible impact on usage or revenue. The divergence points to demand that is usage-driven rather than narrative-driven. This reinforces Solana’s position as a high-throughput execution layer rather than a chain dependent on speculative enthusiasm. Hyperliquid validates specialised execution model Built as a specialised derivatives trading platform rather than a general-purpose blockchain, Hyperliquid has generated more revenue in 2025 than most major Layer-1 and Layer-2 networks. TVL data shows Hyperliquid’s locked capital climbing from around $2 billion early in…

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Filed under: News - @ December 26, 2025 7:24 pm