Solana Surges: $840M Revenue, 213% Growth in Q4

Solana (SOL) Price: Sees 213% Growth as Network Activity Soars

Revenue across Solana applications surged 213% to $840M in Q4 2024, with November being the strongest month at $367MSolana became the second-largest DeFi network with $8.6B TVL, surpassing TronLeading apps Pump.fun and Photon saw growth of 242% and 278% respectivelyAverage daily transactions reached 81.5M, with fees increasing to $0.05SOL reached a market cap of $91B, ranking sixth among all cryptocurrencies

TheSolana blockchain network achieved its strongest performance to date in the fourth quarter of 2024,with total application revenue reaching $840 million. This represents a 213% increase from the previous quarter’s $268 million, according to a new report from market intelligence firm Messari.

November proved to be the standout month for the network, generating $367 million in revenue. This surge came as the network experienced increased activity across various sectors, including decentralized finance (DeFi), non-fungible tokens (NFTs), and new cryptocurrency launches.

Leading applications on the network showed remarkable growth during this period. Pump.fun led the way with $235 million in revenue, marking a 242% increase from the previous quarter. Following closely behind, Photon demonstrated even stronger growth at 278%, generating $140 million in revenue.

The network’s success extended to its DeFi sector, where Solana claimed the position of second-largest network by total value locked (TVL). The TVL grew by 64% to reach $8.6 billion, allowing Solana to overtake Tron in November. When measured in SOL tokens, the DeFi TVL increased by 28% to 46 million SOL.

Daily trading activity on decentralized exchanges (DEX) saw substantial growth, with average daily volume increasing by 150% to $3.3 billion. This uptick was largely driven by increased trading in memecoins and the emergence of new AI-themed tokens on the network.

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