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Despite falling meme coin volumes in 2025, Solana revealed Pump.fun and launchpads generated massive revenue.
Solana-based meme coin launchpad, Pump.fun, emerged as one of the ecosystem’s top revenue-generating applications.
Pump.fun was listed among seven Solana apps that generated more than $100 million in revenue during the year, as meme coin issuance and speculative trading remained a major activity driver on the network.
Pump.fun Stole the Spotlight
According to the latest findings by Solana, alongside Pump.fun, five other launchpads each recorded over $1 billion in volume in 2025. They collectively contributed to launchpad revenues doubling year-over-year to $762 million.
Pump.fun also played an important role in rising token creation as launchpads collectively generated 11.6 million tokens, more than double the prior year. However, only a small fraction, about 0.89%, progressed beyond bonding curve launches. Despite meme coin trading volume declining 10% year-over-year to $482 billion, Solana noted that activity was still up roughly 80 times compared with two years earlier.
Beyond Pump.fun, Solana reported that total app revenue across the network reached $2.39 billion in 2025. This figure was up 46% year over year and marked a new all-time high. In addition to Pump.fun, revenue leaders included Axiom Exchange, Meteora, Raydium, Jupiter, Photon, and Bullx, each generating more than $100 million.
Apps on the network, earning under $100 million, collectively generated more than $500 million in revenue during the year. At the protocol level, Solana said network REV climbed to $1.4 billion, which was a 48-fold increase over the past two years, while average transaction fees continued to decline, and median fees fell to $0.0011.
Solana’s broader network metrics pointed to rising usage and asset activity. The blockchain processed 33 billion non-vote transactions in 2025, and averaged 1,054 non-vote transactions per second. Meanwhile, daily active wallets averaged 3.2 million, up 50% year over year.
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Stablecoin supply more than doubled to $14.8 billion, and $11.7 trillion in stablecoins were transferred over the year. Tokenized equities, on the other hand, debuted on the network with $1 billion in supply.
DEXs, and ETFs
Additionally, decentralized exchange volume reached $1.5 trillion, led by Raydium, Orca, and Meteora, while DEX aggregators such as Jupiter accounted for a growing share of trading activity.
Staked SOL reached record highs in 2025, while Solana ETFs recorded $1.02 billion in net inflows amidst heightened institutional demand.
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