November saw Solana’s decentralized applications (DApps) explode to a new high, generating a record $365 million in revenue according to research platform Syndica, on *December 19, 2024*.
Much of this rush? Resulting that the success of memes coin launchpad Pump.fun for $106 million during that same year.
With Solana DApps absolutely on fire and no end in sight, Pump.fun proved to be a force to be reckoned with, the broadcasting feature coming under heavy criticism, but for someone who knows and follows the world of live streaming it surely showed its worth.
Solana Memecoin DApps Surge
In late November, the platform came under fire after reports of people doing or threatening to commit violence on livestreams. Pump.fun temporarily suspended livestreaming indefinitely until they improve content moderation.
At the same time as revenue was falling, Pump.fun’s weekly earnings fell by 66 per cent in the week leading up to the 30th of November. The platform’s weekly revenue from November 18 – 24 was $33.8 million but dropped to $11.3 million in the last weeks of the month.
In addition to Photon, a token discovery platform, and Raydium, a decentralized exchange (DEX), Solana’s DApp revenue included other major contributors. In 2024, Solana’s ecosystem has seen the rise of Memecoin DApps, which outpaced every other category.
According to Syndica data, memecoin DApps brought in $509m last year, with another $300m into the game via Telegram bots. Coins are pouring into spot DEXs, which flow in at $141 million. Since January, revenue from memecoin related applications has grown by more than 300x, from roughly $600,000 to $183 million in November.
Still, DeFi remains heavily a part of Solana’s DApp ecosystem, notwithstanding all that — 83.7 percent of revenue in 2024 was generated from DeFi. Infrastructure, NFTs, & gaming made up the 6.5%; then there was 9.6% from wallets.
