Solana delivered two major ecosystem milestones in September, reinforcing its position as a leading Layer 1 network. According to data highlighted in a report by Galaxy Ventures, Solana's app revenue reached $180 million, marking a nine-month high and giving the blockchain a 32% share of total app revenue across all blockchains. That share surpassed Ethereum and was driven largely by trading platforms, which accounted for about 39% of total revenue, with applications such as Photon and Axiom playing a significant role.
At the same time, Solana extended its dominance in decentralized exchange activity. The network recorded $74 billion in DEX volume during September, maintaining its lead over other chains for 15 consecutive months. Solana now accounts for 81% of all on-chain DEX transactions and has processed more than $800 billion in DEX activity in 2025, surpassing all Ethereum Layer 2 solutions combined.
The network continues to benefit from sub-second transaction confirmations and fees typically below $0.01, which have made it a preferred venue for traders and developers. These performance metrics indicate strong user engagement, healthy demand for Solana-based applications, and growing confidence in its DeFi ecosystem, even as broader crypto markets show mixed signals.
Market participants will watch whether Solana can maintain this momentum in the coming months, especially as Ethereum and other Layer 1 and Layer 2 networks compete for DeFi market share.
