Pump.fun leads application revenue on Solana in 2025

Pump.fun, a platform launching meme coins on Solana, has emerged as one of the largest revenue-generating applications in the ecosystem in 2025. This application is among the top 7 apps on Solana with revenue exceeding $100 million, thanks to active meme coin issuance and trading activities.

According to Solana, along with Pump.fun, 5 other launchpads also achieved transaction volumes over $1 billion in the year. The total revenue from these launchpads has doubled compared to the previous year, reaching $762 million. These platforms have created 11.6 million tokens, more than double last year, but only about 0.89% of tokens have passed the bonding curve stage.

Although the total meme coin transaction volume across the network decreased by 10% year-over-year to $482 billion, Solana reports that current activity levels are still approximately 80 times higher than two years ago.

On a network-wide scale, the total revenue of applications on Solana reached $2.39 billion in 2025, a 46% increase and a new all-time high. Besides Pump.fun, applications such as Axiom Exchange, Meteora, Raydium, Jupiter, Photon, and Bullx each generated over $100 million in revenue. The remaining group of applications, each under $100 million, also contributed a total of over $500 million.

At the protocol level, Solana’s network revenue (REV) reached $1.4 billion, a 48-fold increase over two years, while transaction fees continued to decline, with median fees only $0.0011. In 2025, Solana processed 33 billion non-vote transactions, averaging 1,054 transactions per second, and the number of active daily wallets reached approximately 3.2 million, a 50% increase compared to the previous year.