2025: the year of revenue, assets, and trading. Let’s look back at Solana's incredible year in data: 👉 App Revenue - Apps built on Solana earned $2.39 billion, up 46% y/y for a new ATH - 7 apps earned > $100m in revenue in 2025: @Pumpfun, @AxiomExchange, @MeteoraAG, @Raydium, @JupiterExchange, @tradewithPhoton, @bullx_io - The longtail of apps on Solana (apps with under $100m in revenue) earned over $500 million in 2025 👉 Network performance - REV reached $1.4 billion, up 48x over 2 years - 33 billion non-vote transactions, up 28% y/y for a new ATH (116 billion including votes) - Averaged 1054 non-vote TPS - Unique active wallets averaged 3.2 million per day in 2025, up 50% y/y for a new ATH - 725 million new wallets with at least one transaction - Average transaction fee of $0.017, down from $0.025 - Median fee of $0.0011, down from $0.0014 👉 Assets - Stablecoin supply closed the year at $14.8 billion, more than doubling y/y for a new ATH - $11.7 trillion of stablecoins were transferred, up 7x over 2 years - Equities debuted on Solana with $1 billion in supply and $651 million in trading volume - Bitcoin volume grew to $33 billion, up 5x y/y, a new ATH - Bitcoin supply doubled to $770 million, a new ATH - Zcash, Monad, and NEAR debuted on Solana with $32 million in supply combined - 421 million staked SOL, up 8% for a new ATH - Solana ETFs added net inflows of $1.02 billion 👉 DEXes - DEX volume of $1.5 trillion, up 57% y/y for a new ATH - SOL-stablecoin volume set an ATH of $782 billion, more than doubling y/y - 12 DEXes processed > $10 billion in volume, led by @Raydium ($347b), @orca_so ($241b), @humidifi ($184.7b), @SolFiAMM (184.2b), and @MeteoraAG ($182b) - Prop AMMs grew from 19% of aggregator volume to 54% - SOL was a pair token in 42% of all trades, USDC in 30% - AI agent volume grew to $31 billion, a new ATH - Tokenized asset volume grew to $598 million, a new ATH - Project token volume (e.g. JUP, RAY) grew to $86 billion, a new ATH 👉 Memecoins and Launchpads - Memecoin volume reached $482 billion, down 10% y/y, up 80x over 2 years - 6 launchpads did over $1b in volume: @Pumpfun, @bonkfun, @believeapp, @MeteoraAG via DBC, @moonit, @Raydium via LaunchLab - Launchpad revenues doubled y/y to $762 million - 8 launchpads booked > $1m in revenues - 11.6 million tokens were created from launchpads, more than doubling y/y - 105,000 tokens graduated from launchpad bonding curves, 0.89% of all tokens launched 👉 Trading Platforms - DEX aggregators were responsible for $922 billion in volume, doubling y/y: @JupiterExchange ($812b), @okx ($59b), @dflow ($35b), @Titan_Exchange ($13b) - Pro trading platforms earned $940 million, up 44% y/y for a new ATH - 10 trading platforms earned over $10 million, and 3 over $100 million: @AxiomExchange, @tradewithPhoton, @bullx_io - Trading platforms processed $108 billion of volume, up 66% y/y: @AxiomExchange captured 31% 🫡 h/t to @blockworksres for the data

Name & Symbol: Humidifi ($WET)
Address: WETZjtprkDMCcUxPi9PfWnowMRZkiGGHDb9rABuRZ2U

Solana’s Largest Treasury Player Goes Fully Staked Forward Industries Launches Solana Validator and Integrates with DoubleZero https://t.co/FcxM2UZMox

Name & Symbol: DoubleZero ($2Z)
Address: J6pQQ3FAcJQeWPPGppWRb4nM8jU3wLyYbRrLh7feMfvd

Let's look at the winners and losers of today's stress test! 1. $SOL was true layer 1 winner. Max TPS , no downtime and low cost. 2. $HYPE no issues at all. Insane fees! 3. $ZEC actually gained on the day! 4.$MERL also gained on the day! 4. $ETH was slow and expensive! $1500 plus per transaction. 5. CEX'S failed. I hate to say it but Binance failed worst! 6. Centralized Market makers failed. Decentralized solutions (like DERIW) worked well! 7. $ATOM went to zero. what else?

Name & Symbol: Merlin Chain ($MERL)
Address: 0xa0c56a8c0692bd10b3fa8f8ba79cf5332b7107f9

Top RWA projects! https://t.co/mJrTYUX7fd

Name & Symbol: Allo ($RWA)
Address: 0x9c8b5ca345247396bdfac0395638ca9045c6586e

Treasury company Forward Industries (FORD) plans to tokenize its shares for trading on Solana, partnering with fintech firm Superstate. Forward is collaborating with Drift, Kamino, and Jupiter Lend to enable tokenized FORD as collateral on their protocols. https://t.co/MigKsG6Ppa

Name & Symbol: Kamino ($KMNO)
Address: KMNo3nJsBXfcpJTVhZcXLW7RmTwTt4GVFE7suUBo9sS

Treasury company Forward Industries (FORD) plans to tokenize its shares for trading on Solana, partnering with fintech firm Superstate. Forward is collaborating with Drift, Kamino, and Jupiter Lend to enable tokenized FORD as collateral on their protocols. https://t.co/MigKsG6Ppa

Name & Symbol: Drift ($DRIFT)
Address: DriFtupJYLTosbwoN8koMbEYSx54aFAVLddWsbksjwg7

Coinbase launched a feature allowing users to lend USDC via the DeFi protocol Morpho, offering yields up to 10.8%. https://t.co/RXXQkcB72Y

Name & Symbol: Morpho Token ($MORPHO)
Address: 0x58d97b57bb95320f9a05dc918aef65434969c2b2