Solana dApp revenue reaches $34 million weekly

The Solana ecosystem has maintained its leadership in decentralized application (dApp) weekly revenue, recording approximately $34 million last week. This marks the seventh consecutive week that Solana has ranked first in weekly dApp revenue when comparing Layer 1 and Layer 2 blockchains.

In the third quarter, Solana's decentralized exchange (DEX) spot trading volume reached $197.2 billion, a 23% increase from the previous quarter. The network accounted for 36% of total chain spot DEX volume. Within this volume, meme coin trading rose to 29% of the share, up from 16% in the second quarter.

While app revenue grew significantly, reports indicate a distinction between service-level revenue and network-level earnings. For the third quarter, Solana's total app revenue was estimated at $299.1 million, a 48% increase from the previous quarter, with Pump.fun contributing 41% of that total. However, after accounting for operator payments, net profit for token holders was reported at a $600,000 deficit.