Solana DApps generated an astonishing $3.65 billion in revenue in November, with the meme coin platform Pump.fun contributing over $1 billion in revenue, becoming the first DApp on Solana to surpass the billion-dollar mark in a single month.
Pump.fun’s brief success saw monthly revenue exceed $1 billion
Data shows that the meme coin platform Pump.fun raked in $1.06 billion in revenue in November, but faced criticism due to controversies surrounding its community live streaming feature. The issue began on 11/25, with reports of users sharing inappropriate content during live streams, including references to firearms and violent threats, prompting concerns from US law enforcement. The Pump.fun team decided to temporarily disable the live streaming feature and promised to enhance content moderation mechanisms.
However, the closure of the live streaming feature is expected to impact platform revenue. One week after Pump.fun disabled live streaming, weekly revenue plummeted by 66%, dropping from $33.8 million from 11/18 to 11/24 to just $11.3 million in the final week of November.
Photon and Raydium are other major contributors to Solana’s revenue
Apart from Pump.fun, other DApps on Solana such as the Telegram-based meme coin trading bot Photon and the automated market-making protocol Raydium also made significant contributions to Solana’s overall revenue.
Meme coin DApps emerge as the biggest winners of 2024, generating a whopping $5.09 billion in revenue
According to Syndica’s data, in 2024, 83.7% of the revenue from DApps in the Solana ecosystem came from DeFi applications, while wallet-related applications accounted for 9.6%. The remaining 6.5% came from infrastructure, NFTs, and gaming.
Among the DApp categories on Solana this year, meme coin applications stood out with a total revenue of $5.09 billion, becoming a key revenue source for the Solana ecosystem. Additionally, revenue from Telegram meme coin trading bots reached $300 million, while decentralized exchanges (Spot DEXs) accumulated $1.41 billion in revenue.
It is worth noting the remarkable growth in revenue of Solana meme coin DApps. The monthly revenue of meme coin applications was only about $600,000 at the beginning of the year, but by November, monthly revenue had soared to $1.83 billion, an increase of over 300 times.
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