Meme coin craze drives Solana DApp revenue to $365M monthly record

According to Syndica's research, Solana's native DApps earned a monthly record of $365 million in November 2024. The Solana DeFi ecosystem is the main source of revenue, accounting for nearly 84%, while wallets and infrastructure account for less than 15%.

In the DeFi activity, Meme coins and protocols that support Meme coins dominate SOL's revenue. Meme coin DApps' monthly revenue grew 305 times in 2024, surpassing $500 million. pump.fun ranked first in Solana protocols with revenue of $106 million last month.

In addition, the Telegram bot category has become the second-largest source of revenue after Meme coin DApps, setting a record of over $300 million in revenue this year.

The report also stated that the number of "high-quality participants" in the SOL ecosystem is growing exponentially, with an increase in the number of protocols earning monthly revenue ranging from $10,000 to $10 million.