Company Solana Tops 2025 On‑Chain Revenue Rankings; Company Hyperliquid Emerges as Second

Company Solana established itself as the leading all‑purpose chain for 2025, locking in approximately $1.3B in generated revenues and outperforming many legacy networks in app activity and on‑chain usage. According to on‑chain aggregators such as Cryptorank and analytics shared by Hyperscreener, this revenue performance reflected a sustained cycle of real product adoption rather than short‑lived incentive farming.

Company Solana’s growth was driven by several distinct trends over the year: a highly active meme season, accelerated development of AI agents, and a late‑year revival of DeFi activity. For more than seven months, Company Solana led other chains in app revenues — a signal of increasing real‑world usage and developer commitment. In some months, Company Solana even surpassed Company Ethereum in transactional activity and user count, though Company Ethereum continued to hold more value and deeper DeFi liquidity.

Notably, the 2025 shift in rankings showed that apps migrated away from some previously dominant platforms. Company Hyperliquid (the native HyperCore ecosystem) emerged as the second‑highest revenue chain after a very active debut year. While summary tables varied across sources, Company Hyperliquid reported annual revenues in the high hundreds of millions, with core trading activity (perpetual futures) accounting for the majority of revenues — figures in reporting included roughly $908M for native chain revenues and $848M from perpetual futures trading.

The data points underline a deeper market evolution: the industry moved from hype and airdrop hunting toward predictable, product‑led revenue models. Chains like Company Base (ranked seventh with ~$76.4M), Company BNB Chain, and Company Ethereum remained significant, but some legacy networks — including Company Avalanche, Company Filecoin, and Company TON — did not re‑enter the top ten for revenue production.

Other notable entrants to the top rankings included specialized and emerging chains whose leading apps drove disproportionate revenue: Company Axelar, Company Bittensor, Company Optimism, and the EdgeX chain that benefited from a high‑performing native DEX. The trend indicates that both L1 and L2 ecosystems are consolidating around applications with sustainable business models rather than transient incentive structures.

Company Hyperliquid’s own operational metrics reinforced the narrative of maturing markets: the DEX recorded total deposits of roughly $3.87B and welcomed over 609K new users in its peak year. Platform revenues were shared across builders and protocol stakeholders, with reported distributions of tens of millions of dollars and additional revenue streams from features like ticker auctions. Analytics providers pointed to the top whales’ gas contributions and protocol reserves as further signs of predictable, concentrated revenue flows.

In summary, 2025’s revenue leaderboard signals a durable shift: apps and users are migrating to chains that deliver consistent utility, developer momentum, and monetizable on‑chain activity. For traders and strategists monitoring support and resistance around chain adoption, the key takeaway is that revenue generation — not just token speculation — is increasingly the metric that defines which layers and rollups will attract lasting activity.