Solana dApps generated more revenue than dApps on all other chains combined
Solana’s dApp ecosystem is outearning the competition, with more revenue than all other chains combined.
In the last 12 months, Solana (SOL) dApps generated more revenue than dApps on all other chains combined. According to a report by Syndica , published on April 18, Solana dApps earned $2.8 billion in revenue. That’s 47% more than the dApp revenue on all other chains combined.
Cumulative dApp revenue for Solana and all other chains | Source: Syndica
Solana’s dApp earnings began outpacing all other chains in October of last year. Since then, the gap has only continued to widen. These figures show that Solana’s ecosystem remains highly attractive to both users and developers. Its low fees and focus on user experience appeal to end users, while developers benefit from the network’s accessible and developer-friendly infrastructure.
Still, Solana’s dApp revenue is largely driven by crypto trading applications, which makes earnings highly volatile. For example, revenue peaked in January at $701 million, coinciding with Solana’s all-time high of $294.33.
Solana dApp revenue each month, by category | Source: Syndica
Since that peak, dApp revenue has declined significantly, dropping to $146 million in March. This highlights how closely dApp earnings correlate with high trading volumes and elevated asset prices.
Pump.fun leads in Solana revenue
Exchanges, wallets, and other trading-focused platforms dominate Solana’s top-earning dApps. The biggest contributor in March was memecoin launchpad Pump.fun, which brought in $31 million, surpassing platforms like Jupiter and Phantom.
Solana dApps by revenue | Source: Syndica
Pump.fun is now facing rising competition from Axiom, a memecoin launchpad backed by Y Combinator. Axiom has quickly gained traction, capturing 29% of the memecoin dApp market and generating $19 million in revenue.
Meanwhile, Jupiter remains the dominant force among Solana DEXs, earning 93% of total DEX revenue on the network. It maintained strong performance in March, bringing in $22 million despite the cooling market—alongside consistent results from Kamino Finance.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitwise NEAR ETF Has Already Pulled in $60.2 Million Just 7 Days After Launching
Marvell (MRVL.US) Investor Day unveils a five-year roadmap "above Wall Street expectations": Goldman Sachs is not convinced and maintains a "neutral" rating
Goldman Sachs stated that the valuation has already priced in most of the optimism, and the bank has raised its target price from $220 to $270, while maintaining a "Neutral" rating.
"Tail risks" of components such as ASIC, storage, and optical modules: Power shortage in the US means racks are installed but can't be powered
Morgan Stanley predicts that by 2028, U.S. data centers will face a net electricity shortage of about 32GW, equivalent to 34%. Power bottlenecks may first impact the tail end of the supply chain, including ASIC, storage, optical modules, and power management, while Nvidia and Broadcom are relatively more resilient. Even with accelerated self-generated power and overseas expansion, the gap will still be difficult to fill quickly.
Crypto prices
More
