Solana Decentralized Applications Experience Significant Growth
Solana decentralized applications (dApps) have achieved a notable milestone, with revenues exceeding $22 million in the past week. According to data from Defillama, Meme Coin Launchpad Pump.fun led the pack, generating $9.65 million and marking its eighth consecutive week at the top. This surge in revenue can be attributed to the continued dominance of Solana-based trading protocols, with user activity driving growth in the network.
Axiom, a rising trading platform offering yield farming and perpetual products, followed closely as the second-highest earner, with $5.20 million. Jupiter, Solana’s largest decentralized exchange aggregator, recorded $6.75 million in revenue during the same period. Phantom Wallet added $2.9 million, solidifying its position as a key entry point for users in the Solana DeFi ecosystem. Other notable performers included Raydium, with $858,000, Meteora, with $817,000, and Collector Crypt, with $1.38 million.
Source: Defillama
Solana DeFi Ecosystem Surpasses $12 Billion in TVL
The growth in protocol revenue coincided with a resurgence in Solana’s broader decentralized financial activities. The network’s total value locked (TVL) recently surpassed $12 billion for the first time since the 2021 bull run, reaching $12.18 billion on September 10. Solana currently has locked assets worth $11.3 billion, which has increased by almost 2% in the past 24 hours. Commercial volumes have also risen, with Solana recording a 24-hour volume of $4.44 billion on September 26, significantly above its baseline of $2.77 billion.
Source: Defillama
Memecoin Launchpads Experience Liquidity Slump
Despite the overall growth, Memecoin launchpads have shown signs of slowing down. Data from Dune Analytics reveals that binding curve volumes, a key indicator of liquidity on Meme-focused platforms, fell below $1 billion for the first time in six months. The total volume of the launchpads was $796.4 million, with Pump.fun accounting for $669.2 million, or 84% of the total. Bonkfun followed with $95 million, while smaller platforms like Launchlab and Bags reported negligible volumes.
Source: Dune/Adam_tehc
Solana Price Analysis
Solana (SOL) has traded at $206, experiencing a 4.2% change in the last 24 hours. Despite the daily gain, the token has dropped 7.1% in the past week and 12.6% in the past two weeks. Technical indicators suggest that Solana continues to move within a parallel channel, which has governed its price action since spring 2025. The token has repeatedly bounced off the lower boundary of the channel and encountered resistance on the upper line.
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