Solana generated $91 million in application revenue during May 2024, topping all blockchains according to Defillama data. Hyperliquid L1 earned $53 million that month, placing it between Solana and Ethereum, which logged $52 million in revenue.
Revenue Numbers
Solana's $91 million was the highest. Hyperliquid L1 followed with $53 million. Ethereum generated $52 million. Defillama compiled the figures for that month. No other blockchains hit over $50 million that period.
The Ranking Quirk
The report lists Ethereum as ranking second behind Solana. But Hyperliquid L1's $53 million beats Ethereum's $52 million by a million dollars. That means Hyperliquid should be second. The data says it's sandwiched between them.
Defillama's Role
Defillama tracks blockchain financial metrics. This May 2024 snapshot shows where each network stood that month. The analytics firm hasn't released similar data for this year yet.
The May 2024 revenue figures remain static in the dataset. Why Ethereum is listed as second despite the numbers stays unexplained.
