Grayscale Releases Solana Research Report: Ecosystem Annual Revenue Could Reach $5 Billion; If Network Growth Continues as Expected, SOL Prices Could Rise

Crypto asset management company Grayscale released a research report on the Solana ecosystem, noting that Solana has become a "hosting network" for blockchain applications, with decentralized exchanges like Raydium and Pump.fun being built on Solana. Currently, the Solana ecosystem generates approximately $425 million in monthly fee revenue, implying a potential annual revenue of $5 billion. So far this year, the average transaction fee on the network has been just $0.02. Furthermore, the Solana ecosystem has over 1,000 full-time developers, which is lower than Ethereum but higher than other major blockchain ecosystems. Regarding Solana's native network token, SOL, Grayscale believes that while the token supply is growing at an annual rate of approximately 4%–4.5%, SOL stakers can earn a nominal return of 7%, which translates to a real return of 2.5%–3%. As the Solana network grows over time, investors can expect the price of SOL to rise accordingly.