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Market

Solana Dominates Blockchain Revenue Despite Activity Drop

Solana (SOL) remains the top blockchain by on-chain revenue, even as meme coin activity on its network has dropped over 80% from its peak, according to Blockworks Research.

Haider Jamal
April 19, 2025

$5M In Weekly Fees

Despite the decline, Solana dApps still drive more than 70% of total blockchain revenue. Syndica reports that in March alone, Solana-based applications generated 46% of all on-chain earnings across networks.

Source: Syndica

However, total network revenue has plunged over 90% since January, returning to July 2024 levels. DeFiLlama data shows Solana now earns under $5 million in weekly fees, the lowest since September 2023.

Looking Ahead

The drop is largely tied to fading hype around meme coins like LIBRA, which once fueled a surge in speculative activity.

With that wave over, Solana’s future revenue may hinge on new app development and broader utility.

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