2024

Memecoin

Photon

Spot

Solana’s decentralized applications (DApps) surged in November, driven by memecoin launchpad Pump.fun and the blockchain’s decentralized finance (DeFi) ecosystem.
Research platform Syndica <a data-ct-non-breakable="null" href="https://blog.syndica.io/deep-dive-solana-dapps-revenue-nove/" rel="null" target="null" text="null" title="null">reported</a> that Solana-based DApps had revenues of $365 million in November. Pump.fun became the first Solana DApp to surpass $100 million in monthly revenue, according to the data.
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 <img alt="Solana DApp revenue reaches $365M in November 2024, led by memecoins" src="https://s3.cointelegraph.com/uploads/2024-12/0193de06-d88b-7c06-996b-1952edf6c763" title="">
 <figcaption style="text-align: center;">
 Solana DApps revenue in 2024. Source: Syndica
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</figure>
<h2 id="pump-fun-recorded-106-million-in-revenue-in-november">Pump.fun recorded $106 million in revenue in November</h2>
Pump.fun earned $106 million in November, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/pump-fun-livestream-backlash-content" rel="" target="_self" text="null" title="https://cointelegraph.com/news/pump-fun-livestream-backlash-content">despite facing backlash</a> over inappropriate content shared by its community via a livestreaming feature.
On Nov. 25, the platform was criticized after reports surfaced of users allegedly performing or threatening acts of violence.&nbsp;
In response, the memecoin launchpad&nbsp;<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/pump-fun-memecoin-freak-show-ban" rel="null" target="null" text="null" title="null">halted its livestreaming feature</a>&nbsp;indefinitely, promising to work toward implementing a better system of moderation.&nbsp;
A week after the platform halted its livestreams, its <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/pump-fun-revenue-dropped-66-percent-backlash" rel="null" target="null" text="null" title="null">weekly revenue dropped by 66%</a>, from $33.8 million between Nov. 18 and 24 to $11.3 million in the last week of November.&nbsp;
Other top contributors to Solana’s DApp revenue included the token discovery platform Photon and the decentralized exchange (DEX) Raydium.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solana-flips-ethereum-top-ecosystem-new-developers" rel="null" target="null" text="null" title="null">Solana overthrows Ethereum’s 8-year reign as top ecosystem for new devs</a>
<h2 id="solana-memecoin-dapps-earns-509-million-in-2024">Solana memecoin DApps earns $509 million in 2024</h2>
Memecoin DApps have earned the most revenue this year among decentralized app categories on Solana. Syndica said memecoin DApps had earned $509 million, and Telegram bots $300 million. Meanwhile, Spot DEXs have received $141 million in revenue year-to-date.&nbsp;&nbsp;
<figure>
 <img alt="Solana DApp revenue reaches $365M in November 2024, led by memecoins" src="https://s3.cointelegraph.com/uploads/2024-12/0193de06-5057-78fb-9c12-85921cf3fccc" title="">
 <figcaption style="text-align: center;">
 Solana memecoin DApps reached $509 million in revenue year-to-date. Source: Syndica
 </figcaption>
</figure>
Memecoin DApps revenue grew by over 300 times in 2024. In January, memecoin applications in Solana earned about $600,000 in revenue. In November, the category’s earnings jumped to $183 million.
Overall, 83.7% of all Solana DApp revenue in 2024 originated from DeFi, with wallets accounting for 9.6%. The remaining 6.5% came from infrastructure, non-fungible tokens and gaming applications.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/5-real-use-cases-for-useless-memecoins/" rel="null" target="null" text="null" title="null">5 real use cases for useless memecoins</a>

Solana DApp revenue reaches $365M in November 2024, led by memecoins

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