Think about it, even though memecoin activity on Solana has dropped by almost 90%, the network itself is still the leader in revenue among blockchains. Yes, seriously— more than 70% of all profits from the blockchain ecosystem are now going through it.
What happened? Well, the hype around memes like LIBRA has clearly subsided: transaction fees have dropped, speculative trades have become rare. Since January, Solana's revenue has decreased by more than 90%, falling back to the mid-2024 figures.
But the trick is different: the main Solana cash register is not made by memecoin, but by decentralized applications (dApps). In March alone, 46% of the revenue in all blockchains came from applications running on Solana. And even now, when the froth has subsided, these dApps still generate more than 70% of revenue within the network itself.
So it turns out that Solana is kept afloat not by hype, but by really working things — and that's cool.
So now the question is:
Do you think Solana will be able to keep the lead if it switches completely to dApps and forgets about memes?
