Solana dApps Outperform Competitors with Record Revenue
Solana-based dApps generated $2.8 billion in revenue over the past 12 months, surpassing the combined revenue of all other blockchain-based dApps by 47%, according to a report by Syndica.
Key Insights
Solana dApp revenue began outperforming competitors in October 2023, and the gap continues to widen.
Low fees and a user-centric experience have made Solana appealing to both users and developers, leading to higher engagement.
However, the revenue is primarily driven by crypto trading apps, which adds volatility to the numbers.
Notable dApp Performers
Top earners include exchanges, wallets, and trading platforms.
Pump.fun, a meme coin launchpad, generated $31 million in revenue in March, competing with Axiom in the meme coin dApp market.
January saw a peak of $710 million, but March saw a sharp drop to $146 million.
This performance highlights Solana’s strong ecosystem but also reflects the volatile nature of crypto-driven applications.
