Solana DApps Hit $365M Revenue in November: Pump.fun Leads with $106M

Memecoin Launchpad Pump.fun Tops Solana DApps with $106M in Monthly Revenue

The blockchain’s decentralized finance (DeFi) ecosystem and memecoin launchpad Pump.fun were the main drivers of Solana’s decentralized apps (DApps) growth in November. According to research platform Syndica, DApps located in Solana generated $365 million in sales in November. According to the report, Pump.fun became the first Solana DApp to generate more than $100 million in monthly income.

Despite criticism for posting offensive content by its users through a livestreaming feature, Pump.fun made $106 million in November. Following allegations of members committing or threatening violent crimes, the platform came under fire on November 25. In response, the memecoin launchpad promised to work toward putting in place a better-moderating system and temporarily suspended its live streaming feature.

Memecoin DApps Dominate Solana’s 2024 Revenue with $509M Earnings

The decentralized exchange (DEX) Raydium and the token discovery platform Photon were also major contributors to Solana‘s DApp earnings. Out of all the decentralized app categories on Solana, memecoin DApps have made the most revenue this year. Telegram bots made $300 million, while memecoin DApps made $509 million, according to Syndica. In the meantime, Spot DEXs have made $141 million so far this year.

In 2024, Memecoin DApps’ revenue increased by more than 300 times. Memecoin applications in Solana generated roughly $600,000 in revenue in January. The category’s earnings increased to $183 million in November. In 2024, DeFi accounted for 83.7% of all Solana DApp revenue, with wallets making up 9.6%. Non-fungible tokens, gaming apps, and infrastructure accounted for the remaining 6.5%.

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