Meme coin craze drives Solana DApp revenue to $365M monthly record
Odaily reports that according to Syndica's research, native Solana DApps generated a record-breaking $365 million in revenue in November 2024. The Solana DeFi ecosystem was the main source of revenue, accounting for nearly 84%, while wallets and infrastructure made up less than 15%. In DeFi activities, meme coins and protocols supporting meme coins dominated the revenue of SOL. Meme coin DApps saw a 305-fold increase in monthly revenue, surpassing $500 million. pump.fun led the Solana protocols with $106 million in revenue last month. Additionally, the Telegram bot category has become the second-largest revenue source after meme coin DApps, recording over $300 million in revenue this year. The report also noted that the number of "high-quality participants" in the SOL ecosystem is growing exponentially, with an increase in the number of protocols generating monthly revenue between $10,000 and $10 million.
