CandleFocus Meme coins drive Solana DApp revenue to $365m record
2024-12-18
Author: Content Editor
Solana's decentralized application (DApp) revenue has reached a record high, with meme coin-related transactions and tools being the main contributors. In November 2024, Solana's native DApps generated $365 million in revenue, with decentralized finance (DeFi) accounting for almost 84% of the cash raised. Meme coins and meme-supportive protocols were particularly successful, with meme coin DApps seeing a 305-fold increase in monthly revenue, bringing in over $500 million. Telegram bots also played a significant role, accumulating the second largest revenue stream after meme coin DApps, with over $300 million earned this year. Additionally, the report highlighted the rapid expansion of SOL's ecosystem to include various active players, and the emergence of the Decentralized Physical Infrastructure sector, which is generating notable revenue growth.
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