Data: Solana Q1 application revenue reached $1.2 billion, the best quarter in a year, Pump.Fun led with $257 million

Mars Finance News, according to News.bitcoin, the Messari "Solana Status Report for the First Quarter of 2025" shows that in the first quarter, the Solana blockchain achieved its strongest performance in 12 months. Solana's total revenue increased by approximately 20% from the previous quarter to $1.2 billion, compared to $970.5 million. January was particularly notable, accounting for nearly 60% of the quarter's total revenue. The popular meme coin issuance platform Pump.Fun topped all applications with revenue of $257 million, followed by Phantom with $164 million in revenue. Photon ranked third with revenue of $122 million (a 13% increase); Bullx ranked fourth with revenue of $87 million (a 19% increase); and Jupiter ranked fifth with revenue of $80 million (a 79% increase). At the same time, the report data shows that the total value locked (TVL) in DeFi on Solana decreased by 64% to $6.6 billion in dollar terms. Meanwhile, the stablecoin market cap on Solana grew significantly by 145% to $12.5 billion, mainly due to the release of the Trump meme coin on January 17. The market cap of USDC stablecoin increased by 148% quarter-on-quarter to $9.7 billion. Its market cap is four times that of its main competitor USDT, which grew by 154% to $2.3 billion. During this period, the average transaction fee decreased by 24% quarter-on-quarter to 0.000189 SOL ($0.04), while the median transaction fee decreased by 7% to 0.000008 SOL ($0.0015).