Solana has emerged as a dominant force in the decentralized finance (DeFi) landscape, surpassing major competitors in key performance metrics such as Real Economic Value (REV), decentralized exchange (DEX) volume, and Total Value Locked (TVL). According to the Solana Ecosystem Report H1 2025 released by Helius, the high-performance blockchain has not only maintained uninterrupted operations for 15 consecutive months but also demonstrated exceptional growth across critical economic indicators.
This surge in adoption and network activity signals a shift in market dynamics, positioning Solana as a top-tier blockchain platform with increasing appeal among developers, institutions, and retail users alike.
Solana’s Dominance in Real Economic Value and DEX Volume
One of the most telling signs of a blockchain’s utility is its Real Economic Value (REV)—a metric that captures the actual monetary demand for using a network. REV includes base transaction fees and out-of-protocol payments such as tips for priority transaction inclusion, offering a more accurate picture of user-driven economic activity than fees alone.
Solana has led all blockchains in REV since October 2024, peaking at $551 million in January 2025**. On January 19 alone, Solana’s daily REV hit **$56.8 million, exceeding the combined daily REV of both Bitcoin and Ethereum—a remarkable milestone that underscores its growing economic significance.
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A significant driver behind this revenue growth is Jito, a liquid staking and MEV (Maximum Extractable Value) protocol built on Solana. Between 42% and 66% of Solana’s monthly REV can be attributed to Jito, highlighting how users are willing to pay premiums for faster transaction execution. This reflects the maturity of Solana’s MEV ecosystem, where validators earn higher returns without inflating median user fees—enhancing both profitability and user experience.
Moreover, Solana’s architecture supports up to 162 million transactions per day, with an average slot time of just 390 milliseconds. The network has operated without downtime since February 2024, showcasing its reliability and scalability under real-world conditions.
An upcoming upgrade, Alpenglow, aims to reduce finality time to between 100 and 150 milliseconds, further strengthening Solana’s position as one of the fastest blockchains globally. Alpenglow is also expected to lower validator breakeven capital to approximately $75,000, making node participation more accessible and decentralizing network security.
Total Value Locked and Stablecoin Growth Surge
In terms of Total Value Locked (TVL)—a key indicator of DeFi adoption—Solana ranked second only to Ethereum in the first half of 2025, maintaining an average TVL between $8 billion and $9 billion. This represents an 18% quarter-on-quarter increase, reflecting growing confidence in Solana-based protocols like Raydium, Orca, and Jupiter.
Equally impressive is the explosive growth of stablecoins on the network. Over an 18-month period, the circulating supply of stablecoins on Solana surged from $1.5 billion to $11.7 billion. In May 2025 alone, Circle minted $1.75 billion in USDC directly on Solana, signaling strong institutional demand for fast, low-cost dollar-denominated transactions.
This rapid expansion positions Solana as a leading infrastructure layer for global payments, stablecoin settlements, and cross-border value transfer—use cases that are increasingly critical in today’s digital economy.
Institutional Adoption and Corporate Treasury Potential
Beyond developer activity and retail usage, Solana is gaining traction among public companies and institutional investors. Analysts at Cantor Fitzgerald have suggested that Solana could eventually surpass both Bitcoin and Ethereum as a preferred asset for corporate treasury reserves—thanks to its capital efficiency, staking yield, and utility-rich ecosystem.
Unlike Bitcoin, which offers no native yield, Solana allows companies to earn returns on treasury holdings through staking or DeFi protocols—without issuing new equity or taking on debt. This yield-generating capability makes Solana particularly attractive in a low-interest-rate environment where businesses seek alternative ways to preserve and grow capital.
The launch of Byreal, a decentralized exchange developed through a collaboration between Bybit and Solana, further illustrates institutional confidence in the network’s infrastructure. Byreal’s official debut on Solana highlights the platform’s ability to support high-throughput trading environments with minimal latency and cost.
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Core Keywords Integration
The core keywords naturally embedded throughout this analysis include:
- Solana
- DEX volume
- Real Economic Value (REV)
- Total Value Locked (TVL)
- Jito
- MEV (Maximum Extractable Value)
- Stablecoins on Solana
- Corporate treasury adoption
These terms reflect the primary search intent around Solana’s performance, economic model, and institutional appeal—ensuring strong alignment with SEO best practices while delivering valuable insights.
Frequently Asked Questions
What is Real Economic Value (REV), and why does it matter?
REV measures the total economic value users are willing to pay to interact with a blockchain. It includes base fees and additional payments like MEV tips. High REV indicates strong demand and real-world usage—not just speculative activity.
Why is Jito important to Solana’s revenue?
Jito enables liquid staking and MEV optimization on Solala. It contributes between 42% and 66% of Solana’s monthly REV by allowing users to earn yield while improving validator income through efficient transaction ordering.
How does Solana compare to Ethereum in TVL?
As of H1 2025, Solana ranked second in TVL after Ethereum, averaging $8–$9 billion. While Ethereum remains dominant due to its first-mover advantage, Solana’s 18% quarterly growth shows strong momentum.
Can Solana really compete with Bitcoin as a corporate reserve asset?
Yes—analysts believe Solana’s ability to generate yield through staking gives it an edge over non-yielding assets like Bitcoin. Companies can maintain exposure to crypto while earning passive income, enhancing capital efficiency.
What impact do stablecoins have on Solana’s ecosystem?
The rise of stablecoins—from $1.5B to $11.7B in 18 months—demonstrates growing use for payments, remittances, and DeFi lending. Circle’s massive USDC minting on Solana confirms institutional trust in its speed and cost-efficiency.
Is Solana’s network reliable despite past outages?
Since February 2024, Solana has operated without downtime for over 15 consecutive months. Ongoing upgrades like Alpenglow aim to further improve resilience and finality, reinforcing long-term reliability.
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Final Outlook
Solana’s performance in H1 2025 marks a pivotal moment in its evolution—from a high-speed Layer 1 to a mature, economically robust blockchain ecosystem. With record-breaking REV, rising TVL, explosive stablecoin growth, and increasing institutional interest, Solana is no longer just an alternative to Ethereum or Bitcoin—it is becoming a foundational layer for scalable decentralized applications.
As innovation continues with upgrades like Alpenglow and expanding use cases in DeFi, payments, and enterprise finance, Solana is well-positioned to maintain its upward trajectory well beyond 2025.