- Solana hits $1B+ in dApp revenue for the second quarter, leading all blockchain networks.
- Validator income surged to $800M, driven by high app usage and lower operating costs.
- Despite strong metrics, SOL trades below key levels, showing weak technical momentum.
On Friday, Solana Foundation released the Q2 2025 Network Health Report, revealing the latest ecosystem data. Solana (SOL) achieved more than $1 billion in decentralized application (dApp) income throughout the second successive quarter. This achievement put Solana at the peak of the blockchain earnings table, as dApp revenue exceeded the outcomes of all key rivals.
Source: Solana Foundation
During Q2, other blockchain networks experienced drops in application revenue production, but Solana continued to grow its ecosystem. The report has cited this growth to the increased user engagement and activity on decentralized platforms run on the network.
Validator Rewards Soar as Costs Plunge
The validation revenues also skyrocketed. The average earnings per quarter were $800 million, and the highest earnings in a single day were $56.9 million on January 19. Such gains are directly related to the increased usage of dApps within the network and the increased volume of transactions.
Meanwhile, the expense of becoming a validator has dropped drastically. The breakeven stake need has reduced to 16,000 SOL as a result of new updates on the network, compared to 50,000 SOL in 2022. The Foundation explains this decrease to better scalability of the systems and faster operations of the validators.
Solana has also been holding a great developer talent. In 2024, the number of new developers on the platform reached 7,625, surpassing the reported numbers on Ethereum and other major networks. This trend indicates an increasing interest in Solana tools and the potential ecosystem.
Source: Solana Foundation
The indicators on decentralization have also improved. An influential measure of validator influence, the Nakamoto Coefficient, had reached 20 as of June. This is a greater resistance to centralization than the score of Ethereum, which is 6, Sui is 18, and Sei is 7.
Source: Solana Foundation
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The validator set has also turned out to be more distributed geographically. No particular nation or data center stakes more than 33% of SOL. Germany ranks top with 23.55%, and the United States second with 17.37 with the Netherlands at third place with 14.36%, implying a stronger and safer network framework.
Solana Struggles Beneath the Surface
Solana has weakened on the market despite its strong fundamentals. In the daily time frame, SOL remains in respect of an important Point of Interest between $140 and $155, but has not built up enough momentum to cause a breach. This area has turned into a technical ceiling as the price has not recovered grounds after multiple efforts.
Source: TradingView
A market structure shift has been established, indicating a potential loss of bullish momentum. SOL has yet to closure any higher highs, and the volume is lacking. A fall below the $135-$140 support area can open up the possibility of stop-loss liquidations and generate force that encroaches the sell-side liquidity area, which could be found below 100.
A long-term view of Solana in terms of network strength contrasts with its short-term price prospects. The token is undergoing a significant test of confidence between powerful fundamentals and bearish technical sentiment as Q3 unfolds.
