Solana Achieves Record Revenue from DApps and Memecoins in 2024

• Solana DApps Revenue Surpasses $365M in November
• Memecoins drive 305x growth on Solana network.
• DePIN sector gains strength with real blockchain solutions.

The Solana blockchain has established itself as one of the biggest highlights in the cryptocurrency market in 2024, driven by a series of decentralized applications (DApps) that have generated astronomical revenues. Among the leaders in fundraising, the highlight was the memecoin launchpad Pump.fun, which racked up $106 million in revenue in November, according to recent data.

In addition to Pump.fun, the Photon platform and the decentralized exchange Raydium have played crucial roles in the network’s growth. These DApps, which are mainly focused on DeFi and speculative tokens, accounted for about 84% of the network’s total revenue generated last month. The infrastructure and wallet sector, by comparison, contributed less than 15%.

Memecoins and Telegram Bots Boost DeFi Sector

Memecoins were the driving force behind Solana’s economy in 2024, with memecoin-related revenue increasing 305-fold to more than $509 million over the year. Traders, lured by quick gains, often turned to Telegram bots such as Trojan and BONKbot, which moved $82 million in November, doubling the previous record.

These bots are becoming indispensable for direct trading of emerging tokens, holding a 4-5% share of decentralized exchange (DEX) volume.

DePIN: Decentralized Physical Infrastructure on the Rise

Another sector that gained prominence in 2024 was DePIN (Decentralized Physical Infrastructure Network), which connects real-world services to the blockchain. Protocols such as Helium, Render and Hivemapper experienced strong growth in demand, generating significant revenues by offering decentralized solutions for data and computation.

The Render protocol, for example, leads the DePIN sector with a decentralized computing network that already demonstrates sustainable growth potential, regardless of market fluctuations.

NFTs are losing ground

Despite Solana’s popularity in the NFT space, the sector struggled in 2024, generating just $27,4 million in on-chain trading revenue. In comparison, the Bitcoin Ordinal and BRC-20 scene dominated the NFT market. However, experts indicate that NFTs could regain traction in 2025, especially with more favorable market cycles.

The data confirms that Solana has established itself as an essential blockchain for DApps, especially in the DeFi sector, with applications such as Pump.fun and Photon leading in revenue and adoption.