Solana Revenue Drops by 87% in H1 2026, Shifts Focus to Stablecoins and Tokenized Assets

Solana's revenue plummeted by 87% in H1 2026 compared to H1 2025, but the network is shifting towards stablecoins and tokenized real-world assets.

The Solana network generated $1.09 billion in gross revenue in H1 2025, but this figure fell to $141 million in H1 2026.

Memecoin trading drove the majority of Solana's revenue in H1 2025, with priority fees and Jito tips accounting for 95% of total revenue. However, memecoin activity has decreased significantly since then.

The network is now seeing growth in stablecoin swaps, general spot trading, and tokenized real-world assets, such as equities and stablecoins. Solana dominates spot trading, particularly in tokenized RWAs, capturing 97% of onchain RWA volume across all of crypto in H1 2026.

The emergence of institutional-scale settlement infrastructure is a key driver for Solana's revenue recovery, with the network positioning itself as the default venue for onchain equity exposure. The agentic economy also needs a settlement layer, and Solana is well-positioned to support machine-to-machine economic activity at scale.