According to @MilkRoadDaily, onchain revenue dynamics have shifted as application-layer activity now surpasses protocol-level revenue for the first time in years. This real-time development confirms the 'Fat App Thesis,' highlighting a decisive move toward app-driven value accrual over protocol dominance. Traders should monitor this trend, as increased app-layer revenue could influence token valuations, especially for projects prioritizing user engagement and transaction volume (Source: @MilkRoadDaily, June 19, 2025).

According to @MilkRoadDaily, @solstrategies_ is leveraging Solana (SOL) to generate onchain revenue via validator yield, positioning itself as the Solana equivalent to MicroStrategy for Bitcoin. Unlike MicroStrategy, which primarily holds BTC on its balance sheet, SolStrategies is actively building revenue streams onchain, utilizing staking rewards and validator operations to enhance treasury performance. The company recently completed a $1 billion raise, highlighting significant institutional interest in Solana-based treasury strategies. This movement demonstrates a shift in crypto treasury management, with actionable implications for traders monitoring SOL price and validator yield trends (Source: @MilkRoadDaily, June 4, 2025).