Key Insights
- 2025 was the year of revenue, assets, and trading on the Solana network, according to the blockchain network
- Solana apps generated $2.39 billion in revenue, with five apps surpassing $100 million each in revenue.
- The network also experienced a surge in activity with around 33 billion non-vote transactions last year as assets increased.
Solana experienced significant growth within its ecosystem in 2025, despite the SOL price plunging later in the year. According to a new report from the blockchain network, citing Blockworks Research data, the report highlights the positives from last year.
The post from the Solana official X (formerly Twitter) account described 2025 as a year of “revenue, assets, and trading.”
Solana Apps Hits Record Revenue with Five Apps Making Over $100 Million Each
According to the report, 2025 was a year of all-time highs (ATH) for Solana. This is evidenced in multiple areas, with the network app revenue reaching a new record high of $2.39 billion, representing a 46% increase compared to 2024.
Seven Solana-based apps earned more than $100 million in revenue. These were Pump.fun, Meteora, Raydium, Jupiter DEX, Photon, and BullX. Interestingly, all these platforms were DeFi protocols, highlighting the growth of DeFi on the network.
This is unsurprising given that decentralized exchanges (DEXs) and memecoins drove most of the network activity in 2025. Total DEX volume reached $1.5 trillion, representing a 57% year-over-year growth, with 12 DEXs processing more than $10 billion each.
However, memecoin volume fell by 10% in 2025 to $482 billion, highlighting the plunge in memecoin activity that became evident by Q2. Despite that, six launchpads still had over $1 billion in volume, with their revenue doubling to $762 million.
Interestingly, the decline in memecoin volume was not due to fewer tokens being launched. In fact, 11.6 million tokens were created through launchpads, twice the number from 2024. However, only 105,000 tokens, representing 0.89% actually graduated from the launchpad bonding curves.
Solana Sees Surge in Activity as More Assets Arrive on Network
Meanwhile, network performance also shattered records across various categories. Solana’s real economic value (REV), a metric that tracks transaction fees and MEV tips, reached $1.4 billion last year.
There were also 33 billion non-vote transactions in 2025, a 28% growth compared to 2024 and a new ATH. When votes are included, transactions ballooned to 116 billion with an average of 1,054 non-vote transactions per second in 2025.
Beyond the transaction volume, the number of users also increased, with 725 million new wallets conducting at least one transaction on Solana in 2025. However, transaction fees have dropped, with the average now at $0.017, down from $0.025, while the median fee has fallen to $0.0011.
The surge in activity and performance, despite memecoin volume dropping, was because assets on the network became more diversified. Stablecoin supply reached $14.8 billion by the end of 2025, double the level from 2024, as stablecoin transaction volume reached $11.7 trillion.
Tokenized equities were also launched on Solana in 2025 and already have a $1 billion supply, with a trading volume of $651 million. Solana’s Bitcoin supply also doubled to $770 million while tokens such as Zcash, NEAR, and Monad launched on the network.
Interestingly, the launch of Solana exchange-traded funds (ETFs) in late 2025 also meant an increase in assets within the ecosystem. The ETFs already have a net inflow of $1.02 billion.
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