Solana Metrics Surge: Total App Revenue Climbs To $840M In Record-Breaking Quarter
Solana (SOL) experienced a remarkable fourth quarter in 2024, with a 213% quarter-over-quarter growth in Chain GDP, rising from $268 million in Q3 to $840 million in Q4. November was the most profitable month, contributing $367 million. Key applications like Pump.fun and Photon drove this revenue, with increases of 242% and 278%, respectively. Solana's DeFi total value locked (TVL) grew by 64% to $8.6 billion, making it the second-largest DeFi network. The average daily spot DEX volume surged by 150% to $3.3 billion. Solana's stablecoin market cap rose by 36% to $5.1 billion, with USDC capturing a 75% market share. Liquid staking increased by 33%, with 66% of SOL staked. Network activity metrics showed a significant rise, including a 171% increase in daily fee payers. Despite a 5% decrease in staked SOL, the market cap grew by 27% to $91 billion. SOL is currently trading at $199, down 22% over two weeks due to macroeconomic challenges.
