Solana's decentralized application ecosystem hit new heights in November 2024, reaching a total revenue of $365 million, driven by the growth of DeFi and memecoins.
Record Solana dApp Revenue
The total revenue of Solana-based dApps reached $365 million in November, marking an all-time high. The spotlight was on Pump.fun, which became the first dApp on the platform to surpass $100 million in monthly revenue.
DeFi as a Major Revenue Source
DeFi applications remain the primary driver of Solana dApp revenue, contributing 83.7% of the total earnings. Additionally, memecoin participation has surged, generating over $500 million in revenue during the period.
Role of Telegram Bots and Swap APIs
Telegram bots and Swap APIs have significantly contributed to Solana's ecosystem, adding $82 million and $153 million in revenue respectively year-to-date.
These figures highlight the growing appeal and profitability of the Solana ecosystem, demonstrating its ability to adapt and innovate in the rapidly evolving blockchain technology landscape.
