Stablecoin

Solana

Raydium

Daily

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 <p>Solana closed 2025 with results that reshaped how markets measure blockchain adoption. The network combined high usage, rising revenues, and deeper liquidity. Hence, Solana moved beyond speed narratives and proved its economic strength.&nbsp;</p>
 <p>Developers, traders, and institutions expanded activity across apps, assets, and exchanges. Consequently, the data shows a network operating at scale rather than experimentation. This shift marked 2025 as a defining year for Solana’s commercial maturity.</p>
 <h2 id="application-revenue-and-network-activity">Application Revenue and Network Activity</h2>
 <p>Application income became a core growth driver during the year. Apps on Solana generated $2.39 billion, rising 46% year over year. Significantly, seven platforms exceeded $100 million in revenue, reflecting sustainable demand.&nbsp;</p>
 <p>These leaders included Raydium, JupiterExchange, and Pumpfun. Besides top performers, smaller applications still produced over $500 million combined. That longtail strength reduced reliance on a few dominant apps.</p>
 <p>Network usage expanded alongside revenue growth. Solana processed 33 billion non-vote transactions, setting a new high. Additionally, the chain averaged 1,054 non-vote transactions per second.&nbsp;</p>
 <p>Daily active wallets reached 3.2 million, up 50% year over year. Moreover, 725 million new wallets completed at least one transaction. Fees declined during this growth phase, improving cost efficiency. Average fees fell to $0.017, while median fees dropped to $0.0011.</p>
 <h2 id="asset-growth-and-institutional-footprint">Asset Growth and Institutional Footprint</h2>
 <p>Asset activity on Solana also accelerated. Stablecoin supply finished the year at $14.8 billion, more than doubling annually. Consequently, stablecoin transfers reached $11.7 trillion, up sevenfold over two years.&nbsp;</p>
 <p>Bitcoin-linked activity expanded sharply as well. Bitcoin trading volume hit $33 billion, while on-chain supply doubled to $770 million. Besides crypto assets, tokenized equities launched with $1 billion in supply.</p>
 <p>Institutional participation increased further. Solana-based ETFs recorded $1.02 billion in net inflows. Additionally, staked SOL climbed to 421 million tokens, reaching a new record. These trends reflected long-term capital commitment rather than short-term speculation.</p>
 <h2 id="trading-dex-liquidity-and-market-structure">Trading, DEX Liquidity, and Market Structure</h2>
 <p>Decentralized trading remained a central pillar. DEX volume reached $1.5 trillion, rising 57% year over year. SOL-stablecoin pairs alone handled $782 billion in volume.&nbsp;</p>
 <p>Moreover, twelve DEXs surpassed $10 billion each, led by Raydium and Orca. Aggregators processed $922 billion, with JupiterExchange controlling most routed volume.</p>
 <p>Trading platforms also delivered strong revenue growth. Professional platforms earned $940 million, increasing 44% annually. Consequently, Solana ended 2025 as a full-stack trading ecosystem, not just a high-throughput network.</p>
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Solana Records $2.39B in App Revenue as Transactions Reach 33B

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