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Solana demonstrated remarkable resilience in December, achieving over $100 billion in decentralized exchange (DEX) trading volume for the second consecutive month, surpassing competitors like Binance Smart Chain and Ethereum. Despite a 20% drop in SOL's price, on-chain activity surged, with daily transactions hitting an all-time high of 1.5 billion and total value locked increasing by 57% to $9.1 billion. Additionally, restaking activity flourished, with Solana's staking pool Jito generating over $100 million in revenue from priority fees and tips.
Solana's DApp ecosystem achieved a record $365 million in revenue in November 2024, driven by memecoins and decentralized finance (DeFi). Notably, Pump.fun, a memecoin launchpad, generated $106 million but faced backlash over community behavior, leading to a 66% drop in weekly revenue. DeFi applications and infrastructure protocols also contributed significantly, with Raydium earning $32 million and Jupiter's Swap API generating $153 million in fees this year, highlighting Solana's resilience and growing dominance in the blockchain space.
Solana's dapp ecosystem achieved a record revenue of $365 million in November, with Pumpfun leading at $106 million, marking a significant milestone for memecoins. Over 30 protocols surpassed $1 million in revenue, while decentralized finance applications contributed 83.7% to the total. Monthly trade volume on decentralized exchanges exceeded $100 billion, indicating robust growth in the Solana network.
Solana's DApp revenue skyrocketed 15x in 2024, reaching $92 million, driven by meme coins and DeFi protocols. Meme coin DApps generated $509 million, with Pump.fun alone earning $106 million in November, despite facing criticism and a revenue drop after suspending its livestreaming feature. DeFi platforms like Raydium and Jupiter also contributed significantly, with Raydium capturing 86% of spot DEX revenue.
Pump.Fun, the leading dapp on the Solana blockchain, reported a remarkable revenue of $106 million in November, driven by the surge in memecoins, despite facing criticism and a temporary suspension of its livestream feature due to user complaints. Overall, Solana dapps generated $365 million in revenue for the month, with a significant portion attributed to DeFi activities. The memecoin sector has seen explosive growth, with revenues skyrocketing from $600,000 in January to over $183 million in November 2024.
The DeFi sector has surged, achieving a 210% increase year-to-date and a 58% rise this month, outperforming Bitcoin and other sectors. Curve DAO Token leads monthly gains at nearly 300%, while Aerodrome Finance tops year-to-date performance at 4,461%. Despite this growth, the Total Value Locked (TVL) remains below its all-time high, with Ethereum dominating TVL rankings.
Solana is nearing $1 trillion in total decentralized exchange (DEX) trading volume, currently at $920 million, driven by a surge in memecoin activity. The total value locked (TVL) in liquidity pools is also on the rise, expected to exceed $2 billion soon. Leading the charge are platforms like Raydium, Orca, and Meteora, with Raydium recently surpassing Uniswap to become the top DEX by trading volume.
The crypto market has surged to a record $3.64 trillion, driven by the Bitcoin halving and pro-crypto political shifts. Among the top five cryptos poised for explosive growth in 2025 is 888 ($888), a memecoin with a strong community and a narrative centered on prosperity, aiming for a target price of $888. With a limited supply of 88.88 million tokens and significant early liquidity, 888 is attracting attention as a potential game-changer in the upcoming bull run.
Altcoins are facing significant selling pressure, leading to declines as bears defend recent highs. Stellar (XLM) is the worst performer, currently priced at $0.4113, while Raydium (RAY) and Core (CORE) also struggle below moving averages. Ethereum Name Service (ENS) shows strong selling pressure at $44, indicating limited upward movement ahead.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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