Solana News Today: Meme Market Resurgence Drives Solana Revenue 44% Higher

In a notable development, the on-chain meme market has experienced a significant resurgence, with two protocols, Pump.fun and Letsbonk, leading the way in 24-hour fee revenue. According to data from DefiLlama, Pump.fun achieved a 24-hour fee revenue of $1.61 million, securing the 15th position in the overall network rankings. Similarly, Letsbonk generated $1.24 million in fee revenue, placing 17th. Both protocols outperformed well-known protocols such as EigenLayer, Sky, and Orca, which ranked 20th, 21st, and 24th respectively.

This revival in the meme market is part of a larger trend where established meme tokens are regaining investor interest. This shift marks a departure from the frenzy of new token launches to a focus on more stable and recognizable assets. The increased activity on the Solana blockchain is a clear indicator of this trend, with over $125 million worth of assets bridged into Solana from other blockchains in the past week. Ethereum contributed the majority of this inflow, with over $70 million bridged into Solana.

Pump.fun and Letsbonk have been pivotal in this trend. Letsbonk has graduated 1,243 tokens compared to Pump.fun’s 622, and launched 130,605 new tokens against Pump.fun’s 77,250. This highlights the competitive dynamics between the two platforms, with Letsbonk currently leading in terms of token activity and fee revenue. The renewed interest in older meme tokens is also evident in the performance of tokens like Pepe (PEPE), Shiba Inu (SHIB), Dogecoin (DOGE), Bonk (BONK), and Pudgy Penguins (PENGU). These tokens have seen significant price increases and trading volumes, reflecting a broader trend of capital rotation back into familiar meme coins. For instance, PEPE has recorded a 23.73% increase in market capitalization, while Bonk (BONK) has captured significant market attention with a 70% price climb over the last 10 trading sessions.

This shift in investor sentiment is also reflected in the overall performance of the Solana blockchain. Solana generated over $271 million in revenue in Q2 2025, outpacing other major blockchains. The network's transaction volume climbed 32% last week, and fee revenue increased 44% to $7.68 million. This performance underscores Solana's position as a leading battleground for meme coin liquidity and on-chain speculation. The anticipation around Solana ETFs further adds to the momentum, with traders estimating a 99% chance that the U.S. Securities and Exchange Commission will approve a spot Solana ETF by the end of 2025. Several major firms have already filed applications, signaling deep institutional interest in the blockchain.

In summary, the on-chain meme market revival, led by Pump.fun and Letsbonk, reflects a broader trend of capital rotation back into established meme tokens. This shift is driven by a cooling off in the frenzy of new token launches and a renewed focus on more stable and recognizable assets. The performance of Solana and the anticipation around Solana ETFs further underscore the blockchain's position as a leading platform for meme coin activity and on-chain speculation.