Solana strengthens leadership in crypto application revenues
- Solana dominates crypto app revenues
- TRUMP memecoin drives daily volumes
- Proof of History accelerates adoption
In recent days, Solana has accounted for 73,3% of daily revenues from cryptocurrency-focused applications, distancing itself from networks such as Binance Smart Chain (BNB) and Ethereum. According to an aggregator specializing in data from decentralized platforms, its other rivals achieved much smaller shares, of 9,44% and 6,46%, respectively.
🚨BREAKING: @Solana apps hit a new milestone, capturing 73.3% of all crypto app earnings in a single day.
– BNB: 9.44%
– Ethereum: 6.46% pic.twitter.com/Ras6z72SlV— SolanaFloor (@SolanaFloor) January 22, 2025
Solana’s Layer 1 (L1) technology, combined with Proof of History (PoH), has been accelerating large-scale transactions, which is boosting DeFi projects, memecoins, and other solutions. In just 24 hours, Solana-based applications generated approximately $8,9 million in revenue, surpassing almost twice the volume recorded by Ethereum in the same period.
The ecosystem has also seen significant growth in DEX volume, surpassing 50% dominance and recently reaching $12 billion. One of the highlights was the TRUMP token, launched on January 17, which reached a fully diluted market cap of $75 billion in about 36 hours. Despite being linked to the President of the United States, Donald Trump stated: “I don’t know where it is. I don’t know much about it except that I launched it and it was very successful.”
The high level of activity surrounding TRUMP and other tokens, such as MELANIA, contributed to Solana’s value reaching US$294,33 on January 19. At the same time, data from an on-chain metrics analysis source indicates that mentions of the network reached more than 168 thousand in a single day, demonstrating increased interest among market participants.
Despite the occasional volatility, the trading balance suggests that Solana remains in a strong position, especially given the growth in the decentralized application sector. DApp revenues during the last quarter of 2024 reached $751 million, significantly outperforming other blockchains in the same period.
This evolution is attracting more and more developers, while transaction efficiency and partnerships with stablecoin issuers such as Tether and Circle are driving the expansion of the network. The short-term outlook is still volatile, but trading volume and high demand for new projects indicate continued interest in this ecosystem.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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They also dispute the court’s reasoning, arguing that the judge overlooked how XRP’s sales fit into a broader investment scheme.