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Bitsky000

12/20 03:34

Solana (SOL) and its decentralized applications (D

Solana (SOL) and its decentralized applications (DApps) ecosystem have experienced explosive growth, reaching an all-time high in revenue in November 2024.

A report from research platform Syndica revealed that Solana’s revenue hit $92 million, a 15x increase from $6 million in January, while Solana DApps generated a record $365 million, a 14x jump from $26 million in January.

Solana’s DApp Economy: DeFi Leads, Meme Coins Explode

Decentralized finance (DeFi) remains the backbone of Solana’s DApp revenue, accounting for 83.7% of total earnings. Wallets contribute 9.6%, while the remaining 6.5% comes from infrastructure, non-fungible tokens (NFTs), and gaming applications.

Meme coin DApps have emerged as a dominant force on Solana, generating a total of $509 million in revenue in 2024.

In November alone, this category earned $183 million, a 300-fold increase from January, when meme coin applications generated in a mere $600,000.
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