Solana has emerged as a powerhouse in the world of cryptocurrencies, leading the pack in real economic value (REV) and decentralized exchange (DEX) volumes in the first half of 2025, as highlighted in Helius’ “Solana Ecosystem Report H1 2025.”
One of the key takeaways from the report is Solana’s dominance in REV, with the blockchain leading all others since October 2024 and reaching a staggering $551 million in January 2025. REV measures the monetary demand for using a blockchain’s network for transactions, including base transaction fees and out-of-protocol tips. Daily REV hit $56.8 million on January 19, surpassing the combined value of Ethereum and Bitcoin.
Jito tips, which contribute between 42% and 66% of monthly REV, demonstrate that users are willing to pay premiums for priority execution, underscoring a mature market for maximum extractable value (MEV) that benefits validators without increasing median fees.
Solana’s fee structure has allowed it to absorb spikes in traffic, such as January’s TRUMP memecoin frenzy, while maintaining a median fee of nearly $0.003. The network processes approximately 162 million transactions daily, with an average slot time of around 390 milliseconds. The upcoming Alpenglow consensus code aims to further enhance the network’s performance by reducing validator breakeven capital to approximately $75,000.
In terms of total value locked, Solana averaged between $8 billion and $9 billion during the first half of 2025, marking an 18% quarter-on-quarter increase and placing it second only to Ethereum. Jupiter’s platform for perpetual swaps handled around $1 billion in daily volume, accounting for 79% of the on-chain perps market. Liquid staking token JitoSOL captured about 39% of the staking share, while the network settled 81% of all DEX trades in 2024 and cleared $890 billion in DEX trading volume in the first five months of 2025.
Off-chain, Solana’s real-world traction is expanding its reach. The stablecoin float on Solana surged from $1.5 billion to $11.7 billion in 18 months, with Circle minting $1.75 billion in USDC in May alone. Telecom app Helium Mobile added roughly 300,000 subscribers in the first quarter. Additionally, crowdsourced-mapping project Hivemapper covered 30% of global roads, and the tokenized-asset marketplace Baxus saw an 11,500% increase in crypto payments and a 50-fold rise in overseas buyers.
Solana’s impressive performance in REV, DEX volumes, and off-chain traction solidifies its position as a key player in the cryptocurrency ecosystem, with continued growth and innovation on the horizon.