Grayscale has released a report identifying Solana as a core "custodian network" for blockchain applications, with notable projects like Raydium and Pump fun. The Solana ecosystem currently generates approximately $425 million in monthly fee revenue, translating to an annualized figure of around $5 billion, with an average transaction fee of just $0.02. The ecosystem boasts over 1,000 full-time developers, making it the second largest after Ethereum. The report also notes that Solana's annual supply growth rate is approximately 4% to 4.5%, with staking annualized returns around 7%, resulting in a real yield of about 2.5% to 3%. Grayscale suggests that if the network continues to grow, the price of SOL could benefit in the long term.