Solana DApp revenue soared past 365 million mg in November! Meme Coin Platform Pump.fun Contributed 109 million mg in a single month

Solana DApps achieved an impressive revenue of $365 million in November, with the meme coin platform Pump.fun contributing over $106 million, becoming the first Solana DApp to surpass $100 million in monthly revenue.

Pump.fun's brief glory, with monthly revenue exceeding $100 million

Data shows that the meme coin platform Pump.fun generated a staggering $106 million in revenue in November, but it has since faced criticism due to controversies surrounding its live streaming feature. The incident began on 11/25, with reports of some users sharing inappropriate content, including firearms and violent threats, which even caught the attention of US law enforcement. The Pump.fun team has decided to temporarily disable the live streaming feature and promised to improve their content moderation mechanisms.

However, the closure of the live streaming feature is likely to impact the platform's revenue. One week after Pump.fun shut down the live streaming, its weekly revenue plummeted by 66%, dropping from $33.8 million between 11/18 and 11/24 to only $11.3 million in the last week of November.

(Terrorism, kidnapping grandmothers, threatening to shoot up schools - Pump.fun slams the brakes, announcing the removal of the live streaming feature)

Photon and Raydium are other major contributors

In addition to Pump.fun, other Solana DApps, including the Solana meme coin trading bot Photon based on Telegram and the automated market-making protocol Raydium, have also made significant contributions to Solana's overall revenue.

Meme coin DApp becomes the biggest winner in 2024, generating $509 million in revenue

According to data from Syndica, in 2024, 83.7% of the revenue in the Solana ecosystem came from DeFi applications, while wallet-related applications accounted for 9.6%. The remaining 6.5% came from infrastructure, Non-Fungible Tokens (NFTs), and games.

Among the DApp categories on Solana this year, meme coin applications have been the standout performers, generating $509 million in revenue for the entire year, becoming a crucial revenue source for the Solana ecosystem. Additionally, the Telegram meme coin trading bot generated $300 million in revenue, while the cumulative revenue of decentralized spot exchanges (Spot DEXs) reached $141 million.

It is worth noting that the revenue growth of Solana meme coin DApps has been remarkably impressive. Meme coin applications had a monthly revenue of only around $600,000 at the beginning of the year, but by November, their monthly revenue had skyrocketed to $183 million, a growth of over 300 times.