Analysis: When SOL reached its historical peak in January, its valuation was similar to that of ETH in 2021

According to BlockBeats news, on May 18th, DBA co-founder Jon Charbonneau posted that when Ethereum and SOL reached their historical highs in price, their network revenue also reached their historical highs, and the peak annualized revenue multiples were roughly equal, about 26.5 times. The peak price of Ethereum occurred in November 2021, when the monthly network revenue was about $1.83 billion, equivalent to an annualized network revenue of about $219 billion. At that time, Ethereum FDV was $578.71 billion, with a valuation multiple of 26.42 times. The peak price of Solana occurred in January 2025, when the monthly network revenue was about $550 million, equivalent to an annualized network revenue of about $6.61 billion. At that time, Solana FDV was $177 billion, with a valuation multiple of 26.77 times.