Solana App Revenues Jump 213 Percent in Q4—Messari Reports Strong Growth

State of Solana Q4 2024 report paints a striking picture of explosive growth, with app-generated revenue (Chain GDP) soaring by 213%—from $268 million to $840 million in just one quarter.

November set a new benchmark, bringing in $367 million, further proving that decentralized applications are now the driving force behind Solana’s economy.

For the third quarter in a row, dApp revenues have outpaced the network’s Real Economic Value (REV). The biggest contributors—Pump.fun, Photon, Raydium, BullX, and Trojan—saw growth between 187% and 278%, largely fueled by meme coin trading and AI-driven projects, strengthening Solana’s market position.

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Solana’s DeFi ecosystem continues its rapid growth, with TVL rising to $8.6 billion, marking a 64% increase from the previous quarter. Raydium and Jupiter set new trading volume records, while liquid staking adoption grew by 33%, now representing 11.2% of total staking.

The broader Solana ecosystem is also evolving, with NFT activity increasing, new mobile innovations like the Seeker smartphone, and a surge in hackathons and accelerator initiatives bringing new projects into the fold.

Institutional interest is ramping up, with ETF proposals in the U.S. and collaborations with traditional financial institutions, signaling a shift toward broader mainstream integration.