Solana has become the second largest blockchain by DEFI TVL (overtaking Tron), while its app revenue has increased by 213% quarter-fourth.
As State of Solana Q4 2024 Report by MesariSolana has climbed the second largest blockchain by DEFI TVL, growing 64% to a quarter-fourth of $ 8.6 billion. In addition, its APP revenue increased in 213% quarter-fourth-witted, which fuel was given by increased speculative trade in Memcoin and AI tokens.
The rapid climb of Solana in the DEFI rankings is powered by an increase in activity in its decentralized exchanges, lending protocols and stacking platforms. The greatest contributors in this growth were Radium, which ended the quarter as the leading DEFI protocol on Solana with $ 2.1 billion in TVL, an increase of 86% cucu. A decentralized Perpatual Exchange Brihaspati Purps also saw 130% Quuk in TVL impressive for $ 1.7 billion.
With its increase in Defee Dominance, Solana saw an increase in APP Revenue (Chain GDP) from $ 268 million to $ 840 million to $ 840 million in 213% cucuke. The charge in the app revenue was led. Bounce in speculative trade on Memcoins and AI-related tokens promoted most of this revenue growth, in which DAPP benefited from transactions fees and swap volumes.
The major driver behind Solana’s Defee and Revenue Extension is speculation around Memcoin and AI tokens. The revival of Meme Trading after the 2024 US election saw large -scale arrival in projects launched on Solana. Tokens such as AI16Z (AI16Z) and Fartcoin (Fartcoin) gained huge traction, which increased trading activity on Solan-based dexs.
Radium, which dominated the Solana dex market with a 56% stake and with 242% QOQ increase in the daily trading volume ($ 1.9B), played an important role in making these trades facilitated. Similarly, pump.fun, a memecoin launchpad, the volume became the fourth largest dex on Solana after 228% QOQ increase in the volume.
