Solana Leads Blockchain Revenue Despite 90% Drop in Memecoin Activity

Solana’s memecoin traffic has fallen by more than 80% , yet the network’s decentralized apps (dApps) continue to generate the majority of blockchain revenue. March data shows Solana apps made up 46% of total earnings across all blockchains, and recent reports indicate it still accounts for over 70% of on-chain revenue. Overall revenue on Solana has dropped over 90% since January, returning to levels last seen in mid-2024. This slump is largely due to falling transaction fees and the collapse of high-profile memecoins like LIBRA, which had driven a wave of speculative activity. With memecoin hype fading, Solana’s future earnings may depend on new dApp development and broader use cases to sustain momentum.

Source: Coinpaprika