In May, Solana ranked first among all public blockchains in application revenue with $91 million, while Hyperliquid L1 placed second.

According to Foresight News, citing DefiLlama data, the rankings of application revenue across major blockchains in May 2025 are as follows: Solana tops the list with $91 million, Hyperliquid L1 ranks second with $53 million, and Ethereum closely follows with $52 million. Polygon and Base are ranked fourth and fifth with $26 million and $23 million, respectively.