Solana Could Retain DApp Revenue Lead with $205M as Ethereum Recovers and Hyperliquid Gains

• Solana earned $205M and retained 40% of DApp revenue despite falling from a 70% peak.

• Ethereum rebounded to 20% by August 2025 after a late-2024 low of 8%.

• Hyperliquid rose rapidly in 2025 to 22% of DApp revenues, becoming a major competitor.

Solana DApp revenue leads with $205M and 40% share; read COINOTAG analysis on how Hyperliquid and Ethereum reshaped DApp market dynamics—learn more now.

What is Solana’s DApp revenue lead in 2025?

Solana DApp revenue is the highest among blockchains in the past 12 months, generating $205 million and representing about 40% of the $509 million total DApp revenue. This figure reflects a decline from an early-2025 peak but confirms Solana’s continued revenue dominance.

How did Solana’s share change from August 2024 to August 2025?

Solana’s revenue share moved from 52% in August 2024 to nearly 70% in January 2025, then eased to 40% by August 2025. These shifts indicate volatile user and revenue distribution across DApps and signal intensifying competition from emerging platforms.

How did Ethereum and Hyperliquid affect the DApp revenue landscape?

Ethereum recovery and Hyperliquid’s rapid ascent reshaped revenue distribution. Ethereum fell to 8% in December 2024 but stabilized and climbed to 20% by August 2025. Hyperliquid grew from a near-zero presence in 2024 to 22% in 2025, indicating strong new-market adoption.

What do the smaller networks (Base, BSC, others) contribute?

Smaller networks collectively held between 2% and 8% each. Base showed consistent performance at roughly 5%–7% monthly, while Binance Smart Chain and other chains provided steady but limited shares, underlining a diversified but Solana-dominated revenue pool.

Frequently Asked Questions

How much did Solana earn versus total DApp revenue?

Solana earned $205M out of an estimated $509M total DApp revenue in the past year, representing about a 40% share and confirming Solana’s leading position despite a reduced market share from its early-2025 peak.

Why did Hyperliquid grow so fast in 2025?

Hyperliquid’s growth follows accelerated adoption in spring 2025 and increased transaction activity on its platform, enabling it to capture roughly 22% of DApp revenue by August 2025 in a short timeframe.

Key Takeaways

• Market leader: Solana remains the top DApp revenue generator with $205M and ~40% share.
• Competition rising: Hyperliquid and Ethereum narrowed the gap, reaching 22% and 20% respectively by August 2025.
• Market dynamics: Volatility in share percentages highlights a competitive and shifting DApp landscape—monitor monthly revenue shares for signals.

Conclusion

Solana continues to lead DApp revenue in 2025 with $205M and about 40% market share, but rising competitors such as Hyperliquid (22%) and a recovering Ethereum (20%) have made the DApp revenue landscape more contested. COINOTAG will continue monitoring monthly revenue distributions and protocol-level developments to track leadership shifts and market implications.