Ethereum and Solana: A Deep Dive into Network Revenue Peaks and Valuation Multiples

In a recent report by COINOTAG News, co-founder Jon Charbonneau unveiled compelling data linking Ethereum and Solana with their peak network revenues. Notably, both cryptos demonstrated remarkable revenue multiples of approximately 26.5 times when their all-time high prices were achieved. Ethereum reached its zenith in November 2021, generating an impressive network revenue of around $1.83 billion within that month, translating into an annualized figure of approximately $219 billion. This positioned Ethereum’s fully diluted valuation (FDV) at $578.71 billion, showcasing a valuation multiple of 26.42 times.

Conversely, Solana marked its peak price in January 2025, also reflecting robust financial metrics with a monthly network revenue of $550 million, which equates to an annualized revenue of about $6.61 billion. At that time, Solana’s FDV stood at $177 billion, resulting in a slightly higher valuation multiple of 26.77 times. These insights offer valuable perspectives on the correlation between cryptocurrency valuations and network revenues, critical for informed investment strategies.