"Solana's Q4 Revenue Surges 213% Amid Memecoin Frenzy"

Solana App Revenues Skyrocket with Memecoin Mania

Solana (SOL-USD) applications witnessed a remarkable 213% surge in revenues during Q4 2024, driven by a memecoin trading frenzy, according to a report by Messari. Cumulative app revenues soared from $268 million to $840 million, peaking at $367 million in November.

The report highlighted that Solana's DeFi ecosystem thrived due to speculative trading, with memecoins playing a significant role. Pump.fun, a memecoin launchpad, led the charge, generating $235 million in Q4 revenues, a 242% quarter-over-quarter increase. DeFi terminal Photon and decentralized exchange Raydium also posted strong gains, earning $140 million and $74 million respectively.

Messari noted that AI-related tokens also contributed to this uptick, with Solana now commanding a 56% market share for AI-driven applications.

Daily trading volumes on decentralized exchanges surged 150%, hitting $3.3 billion, while Solana's total value locked (TVL) reached $8.6 billion. It now ranks second only to Ethereum's $57 billion TVL, per DefiLlama.

With a growing focus on both memecoins and AI tokens, Solana is poised for further growth. Industry experts anticipate AI token market capitalization to soar to $60 billion in 2025, suggesting Solana may have more room to run.

At the time of writing, SOL is sitting at $202.01, down 14.6%, despite Q4's impressive 213% app revenue surge driven by booming memecoin and AI token trading. This dip reflects broader market volatility caused by geopolitical tensions and economic uncertainty.

Meanwhile, a U.S. nonprofit watchdog, Public Citizen, has filed a formal complaint urging federal agencies to investigate Donald Trump over his alleged promotion of the Solana-based TRUMP token. The group claims Trump may have violated laws against gift solicitation, raising concerns over untraceable foreign payments. The complaint, submitted to the Department of Justice and Office of Government Ethics, argues that Trump is soliciting money without offering anything