Solana DApp revenue reaches $365M in November 2024, led by memecoins
Summary
Solana's decentralized applications (DApps) generated $365 million in revenue in November, with the memecoin launchpad Pump.fun leading at $106 million. Pump.fun became the first Solana DApp to exceed $100 million in monthly revenue, despite facing criticism for inappropriate content shared via its livestreaming feature, which was subsequently halted. Following this decision, Pump.fun's weekly revenue fell by 66%. Other significant contributors to Solana's DApp revenue included Photon and Raydium. In 2024, memecoin DApps earned $509 million, with a notable increase from $600,000 in January. Overall, 83.7% of Solana's DApp revenue in 2024 came from DeFi, while wallets contributed 9.6%, and other categories made up the remaining 6.5%.
