Over the past few months the decentralized applications on Solana blockchain has much more revenue than the revenue generated from all dApps

Since October of last year, Solana and its revenue remained at peak, with its native token enjoying appreciable corrections

Decentralized applications on the Solana blockchain generated much more revenue than the revenue generated from all dApps based on other blockchains in the past months, a report by Syndica dated April 18, says.

DApps on SOL generated $2.8 billion in revenue, around 47% greater than the revenue of dApps based on other blockchains, and since October of last year, Solana and its revenue remained at a peak.

The report further noted that the Solana chain’s revenue is mainly driven by the crypto trading applications and also mentions that at a time in December 2024, the revenue of SOL dApps reached $701 million.

At the beginning of this year, the revenue of dApps on the Solana chain began to decline as it fell to $146 million in March, demonstrating a slump after the fading hype of memecoins and other blockchain-based products developed or deployed over Solana.

Pump(dot)Fun and Jupiter gathered more revenue than all DeFi protocols from the revenue that the Solana chain has gathered in March.

From the $358 million revenue generated by the top 10 protocols on Solana in March, Pump(dot)Fun alone brought $31 million, surpassing Jupiter, which collected only $22 million, and Axiom generated $19 million.

However, with time, several memecoin launchpads debuted in the market, which has sparked a competition for Pump(dot)Fun.

Axiom, the launchpad-backed Y Combinator, is now seen hitting Pump(dot)Fun. In terms of revenue in March, Axiom stands in third position with a dominance of 29%.

On the other hand, Jupiter remains one of the most popular and used, and it generates 93% of total DEX revenue on the SOL chain.

Solana Price Updates

According to data from CoinMarketCap, Solana is currently exchanging hands at $138.88 with an intraday correction of 2.34%.

In the past 7 days, the price is up by 12.34% and over the past 24 hours, Solana’s market capitalization has increased by 2.92% to $71.74 billion.

The trading volume has decreased by 21.07% to $2.47 billion. As of writing, the price of Solana is above its 20 and 50 exponential moving averages.

If the bullishness continues, there are higher chances that it might soon surpass its 100 and 200-day exponential moving averages.

Experts see $164.72 as SOL’s upcoming resistance, followed by $180.73 and $206.65.

On the other hand, the nearest supports of Solana are $112.88, $96.87, and $70.95.