Three Reasons Why Solana DApp Revenue Soars to $365 Million in November 2024 🔥🔥🔥

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Solana DApp Revenue Hits New High

Solana's decentralized application (DApp) revenue reached $365 million in November 2024, primarily driven by a surge in meme coin-related activities. The Pump.fun platform contributed $100 million in revenue. In the context of strong demand in the blockchain industry, the Solana network continues to set new records.

Three Key Factors Driving Solana DApp Revenue

DeFi Ecosystem Dominates: Solana's DeFi ecosystem accounted for nearly 84% of last month's revenue, while wallets and infrastructure combined accounted for less than 15%.

Meme Coins Drive DeFi Activity: Various meme coins and meme-supported protocols are driving DeFi activity on the Solana blockchain. In 2024, revenue from Solana DApps related to meme coins surged 305 times.

Telegram Bots Enhance Influence: Telegram bots play a significant role in the Solana ecosystem, contributing the second-largest revenue to the ecosystem. Meme traders often use bots to invest in the latest trending products through Pavel Durov's private messaging platform.

Other Protocols Drive Revenue Surge

The explosion in the number of protocols has led to monthly revenues ranging from $10,000 to $10 million. Solana's decentralized physical infrastructure network (DePIN) is a key emerging field for revenue generation, with Render's decentralized computing network being the largest revenue driver in the DePIN space.

SOL Price Trend

As Solana DApp revenue continues to grow, the SOL price hit a high of $263 last month and is currently consolidating around $210. Analysts advise caution and recommend waiting to see if the $200 support level will hold.

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