Crypto – Solana: An explosive growth in revenues in 2024

In 2024, Solana experienced spectacular growth in the field of decentralized applications (DApps), largely thanks to the rise of memecoins.

Solana experienced spectacular growth in the field of decentralized applications (DApps) in 2024, thanks largely to the rise of memecoins. According to a crypto report, DApps based on Solana generated revenues of 365 million dollars in November 2024, with memecoins leading this growth.

Memecoins were the main revenue drivers for DApps on Solana in 2024. In January, memecoin applications generated about 600,000 dollars in revenue. In November, this figure exploded to reach 183 million dollars, a growth of over 300 times. In total, crypto meme DApps brought in 509 million dollars in 2024, accounting for 83.7% of all DApp revenues on Solana.

Among the DApps, Pump.fun stood out by becoming the first application on Solana to exceed 100 million dollars in monthly revenue, reaching 106 million dollars in November. Despite controversies related to inappropriate content, Pump.fun managed to maintain a dominant market position. However, the platform saw its weekly revenues drop by 66%, going from 33.8 million dollars to 11.3 million dollars in the last week of November.

Besides Pump.fun, other platforms like Photon, a token discovery tool, and Raydium, a decentralized exchange (DEX), also significantly contributed to Solana’s revenues. Telegram bots, frequently used by crypto meme traders, generated 300 million dollars in revenue this year, ranking just behind memecoin DApps.

The exceptional performance of DApps and memecoins on Solana in 2024 could drive the price of the SOL crypto. The increase in revenues and growing adoption strengthens investor confidence, which could lead to a rise in demand and, consequently, an increase in the price of SOL.

In conclusion, the impressive growth of DApps and memecoins on Solana in 2024 highlights the increasing importance of these technologies in the crypto ecosystem. With significantly rising revenues and growing adoption, Solana seems well-positioned to continue playing a key role in the innovation and development of decentralized applications in the future.