Solana DApp November Revenue Surpasses $365 Million! Meme Coin Platform Pump.fun Contributes $109 Million in a Single Month
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, making it the first DApp on Solana to exceed $1 billion in monthly revenue.
Pump.fun enjoyed a brief moment of glory, with monthly revenue surpassing $1 billion. However, data shows that Pump.fun’s revenue in November reached $1.06 billion, but it faced criticism due to controversies surrounding its community live streaming feature. The incident started on 11/25 when some users were found to be sharing inappropriate content during live streams, including discussions involving firearms, violence threats, prompting even US law enforcement agencies to take notice. The Pump.fun official team decided to temporarily shut down the live streaming feature and promised to improve content moderation mechanisms.
However, the closure of the live streaming feature is expected to impact the platform’s revenue. One week after Pump.fun shut down live streaming, weekly revenue plummeted by 66%, dropping from $33.8 million from 11/18 to 11/24 to only $11.3 million in the last week of November.
Photon and Raydium are other major contributors on Solana
In addition to Pump.fun, other DApps on Solana include the Telegram-based meme coin trading bot Photon and the automated market-making protocol Raydium, which also made significant contributions to Solana’s overall revenue.
Meme coin DApps emerge as the biggest winners in 2024, generating a whopping $5.09 billion in revenue
According to Syndica data, in 2024, 83.7% of the revenue from Solana’s ecosystem DApps came from DeFi applications, while wallet-related applications accounted for 9.6%. The remaining 6.5% came from infrastructure, NFTs, and gaming.
Among 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 Solana’s ecosystem. Additionally, revenue from Telegram meme coin trading bots reached $3 billion, while revenue from decentralized exchanges (Spot DEXs) accumulated to $1.41 billion.
It is worth noting that the revenue growth of Solana meme coin DApps has been quite remarkable. The monthly revenue of meme coin applications was only around $600,000 at the beginning of the year, but by November, monthly revenue had skyrocketed to $183 million, growing over 300 times.
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