According to Messari's Quarter 1 Solana Status Report 2025, Solana blockchain recorded its strongest performance in 12 months in Quarter 1 this year. Solana's total revenue increased by about 20% from $970.50 million in the previous quarter to $1.20 billion. January was particularly notable, accounting for nearly 60% of total revenue in the quarter.
Popular memecoin distribution platform Pump.fun topped all apps with $257 million, followed by Phantom with $164 million. Photon, in third place, had $122 million (up 13%); Bullx, in fourth place, had $87 million (up 19%). Jupiter, in fifth place, had $80 million (up 79%).
Meanwhile, the report data shows that the total lock-in value (TVL) on DeFi (in USD) on Solana fell 64% to $6.60 billion. At the same time, the market cap of stablecoins on Solana increased significantly by 145% to $12.50 billion, mainly due to the release of Trump memecoin on January 17. The market cap of USDC stablecoin increased by 148% month-on-month to $9.70 billion. Its market cap is four times that of its main competitor USDT, which increased 154% to $2.30 billion. During this period, the average transaction fee decreased by 24% month-on-month to 0.000189 SOL ($0.04), while the median transaction fee decreased by 7% to 0.000008 SOL ($0.0015).
Solana Q1 app revenue reached $1.20 billion, the best quarter in a year, Pump.fun led at $257 million
2025-05-18 02:05:38
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