Solana’s App Revenue Reaches $2.4 Billion as DEX Volume Surpasses $1.5 Trillion

2025 has proven to be a stellar year for Solana, showcasing tremendous growth across several metrics. The blockchain's app revenues surged to $2.39 billion, marking a 46% increase from the previous year, while decentralized exchange (DEX) volumes soared to $1.5 trillion. This article explores the factors contributing to Solana's remarkable advancements.

Key Takeaways

App Revenues: Solana applications generated $2.39 billion in revenue, with significant contributions from several top apps and a growing number of smaller projects.
Network Performance: The blockchain processed billions of transactions at minimal costs, with average transaction fees dropping to just $0.017.
Growing Assets: The stablecoin supply more than doubled to $14.8 billion, and significant trading volumes were recorded for Bitcoin and tokenized equities.
DEX and Trading Growth: DEX volume reached $1.5 trillion, along with a notable increase in memecoin trading and revenues from professional trading platforms.

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A Transformational Year for Solana

2025 has been a breakout period for Solana, characterized by vast growth in on-chain and economic metrics. Initially recognized for its high throughput capabilities, Solana is evolving into a comprehensive financial ecosystem known for generating real revenue, possessing deep liquidity, and demonstrating consistent trading activity. The newest statistics across various applications and assets indicate that Solana is not only expanding its usage but also effectively monetizing it.

Record-High App Revenues

Applications on the Solana network generated a remarkable $2.39 billion in revenue, which marks a 46% increase year-over-year and establishes a new all-time high. Notably, seven applications surpassed the $100 million revenue mark, including Pump.fun, Axiom Exchange, Meteora, Raydium, Jupiter, Photon, and BullX.

In addition to these top performers, many smaller Solana apps have become significant contributors, with projects earning under $100 million collectively bringing in over $500 million. This wide range of revenue sources indicates an ecosystem that no longer solely depends on a few standout applications.

Scalable and Cost-Efficient Network Performance

Supporting this remarkable growth, Solana's network metrics showcased impressive scalability. The network's revenue (REV) climbed to $1.4 billion, reflecting a staggering forty-eight-fold increase over two years.

In terms of transactions, the network processed an impressive 33 billion non-vote transactions throughout the year, or 116 billion when accounting for votes, averaging over 1,050 non-vote transactions per second. Daily active wallets reached an average of 3.2 million, marking a 50% year-on-year increase. Additionally, more than 725 million new wallets conducted at least one transaction. Despite this heightened activity, transaction costs have continued to decrease, with average fees dropping to just $0.017 and median fees around one-tenth of a cent.

Transactions on Solana

Expansion in Assets, Stablecoins, and Institutional Flows

Asset activity on Solana witnessed a significant uptick. The stablecoin supply ended the year at $14.8 billion, more than double the previous year's amount, while an impressive $11.7 trillion worth of stablecoins moved over the network.

Additionally, tokenized equities were introduced with a supply of $1 billion and trading volume of $651 million. Activity surrounding Bitcoin also surged, with trading volumes increasing fivefold to $33 billion and on-chain BTC supply doubling to $770 million.

Staked SOL tokens reached a new peak at 421 million, and Solana-related exchange-traded products recorded net inflows of $1.02 billion, indicating a growing interest from institutional investors.

DEX Volume and Trading Plateaus

Decentralized exchanges are emerging as a major force, with volumes hitting $1.5 trillion in 2025, a 57% year-on-year increase. Pairs of SOL and stablecoins alone accounted for $782 billion in volume, with twelve decentralized exchanges each processing over $10 billion.

DEX Trading on Solana

Prop-style automated market makers have rapidly grown, capturing more than half of the total volume from aggregators. Trading in memecoins also remained robust, producing $482 billion in volume, while token launchpads doubled their revenues to $762 million, enabling the creation of 11.6 million tokens.

Simultaneously, professional trading platforms generated $940 million in revenue and facilitated $108 billion in trading volume, solidifying Solana's reputation as one of the most active trading platforms in the cryptocurrency space.

In summary, 2025 has marked a pivotal year for Solana as it transformed its scaling efforts into substantial economic activity. Revenue, asset expansion, and trading activities have all reached new heights, signifying a network that has successfully transitioned from experimentation to a stable economic environment.