Solana captured 53% of global crypto users, surpassing all other blockchains combined.
November DApp revenue reached $365M, with Pump.fun earning $106M despite controversy.
Memecoin DApps led 2024 earnings, generating $509M, driven by explosive category growth
Solana captured 53% of global crypto users in November, surpassing all other blockchains combined. This remarkable feat highlights Solana’s growing appeal, fueled by high-performing decentralized applications. Key players like Pump.fun and DeFi platforms attracted millions, reshaping the blockchain landscape.
https://twitter.com/Cointelegraph/status/1869684619622396129?t=gD07PUBBh6I5taj4rDFqrg&s=19 Pump.fun Drives Record-Breaking Revenue
Research by Syndica revealed Solana-based DApps earned $365 million in November. Pump.fun led the charge, becoming the first Solana DApp to exceed $100 million in monthly revenue. The memecoin launchpad earned $106 million, cementing its dominance.Controversy struck on November 25 when reports emerged of inappropriate content on Pump.fun's livestreaming feature.
In response, the platform suspended livestreaming and promised stronger content moderation. This decision caused revenue to fall sharply, dropping 66% in one week, from $33.8 million to $11.3 million.Other top contributors included Photon, a token discovery tool, and Raydium, a decentralized exchange. These platforms helped solidify Solana’s reputation for delivering innovative and profitable blockchain applications.
Memecoin DApps Lead Solana’s 2024 Revenue
Memecoin DApps emerged as the highest-earning category on Solana in 2024, generating $509 million. These applications outperformed others, including Telegram bots ($300 million) and spot DEXs ($141 million). The growth of memecoin DApps has been extraordinary.
Monthly revenue rose from $600,000 in January to $183 million by November, marking a 300-fold increase. DeFi applications contributed 83.7% of Solana’s total revenue this year. Wallet services accounted for 9.6%, while infrastructure, NFTs, and gaming made up the remaining 6.5%.
This revenue mix demonstrates Solana’s strength across multiple sectors, driven by user demand and innovative technology. Solana’s ability to capture more than half of global crypto users highlights its leadership in the blockchain industry. The platform continues to set new benchmarks for growth, engagement, and innovation.
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