Solana’s app economy posted another breakout month. Total application revenues surged to $193.5 million in August, a 126% year-over-year jump, according to data shared by @solanafloor on X.
The growth underscores both accelerating adoption and shifting winners across categories.
The top 10 apps pulled in 86.5% of revenues, led by Axiom Exchange ($49.1M), Pump.fun ($41M), and Phantom Wallet ($22.3M). These three alone accounted for nearly 60% of all revenues.
Each represents a different vertical: trading, launchpads, and infrastructure. Together, they show how diversified Solana’s revenue stack has become.
Trading Tools Stay on Top
Trading remains the backbone of Solana’s app economy. The category generated $67M in August, with Axiom Exchange commanding 73% of the market. Since launch, Axiom has now accumulated over $275M in revenues, cementing its leadership among trading protocols.
This concentration highlights both opportunity and risk. Axiom’s dominance sets the tone for the category, but it also means trading revenues are vulnerable to shifts in just one platform.
Launchpads: Pump.fun Rebounds
Launchpads stayed volatile through August. After dipping in July, Pump.fun roared back with $41M, reclaiming leadership from Bonk.fun, whose revenues collapsed from $33.6M to $6.9M.
Pump.fun’s resurgence reflects the rise of the livestream meta, where creators mint tokens and stream their launches directly to audiences. The trend is driving both token creation and engagement.
Infrastructure revenues totaled $7.4M in August, mostly flat compared to July. Within the category:
The infrastructure space appears stable, but it’s also where growth has slowed the most.
DEX Revenues See New Leaders
Spot DEXs generated $22.5M in August, with leadership shifting.
The movement suggests Solana’s DEX race is tightening. New challengers are steadily eating into Raydium’s long-held dominance.
DePIN Revenues Surge
Decentralized physical infrastructure networks (DePIN) climbed nearly 5x YoY to $1.5M.
DePIN remains a small slice of the pie but is scaling quickly, showing how Solana’s economy continues to expand beyond trading and launchpads.
Pokémon-themed trading card games have emerged as a surprise breakout. Revenues reached $3.3M in August, a 2.3x YoY increase.
By mid-September, the figure had already surpassed $5.9M, with top contributors:
The category’s meteoric rise shows how Solana’s app economy constantly reinvents itself with new verticals.
Pump.fun Surpasses Hyperliquid
On the revenue leaderboard, Pump.fun beat Hyperliquid in daily revenues:
That flip signals Pump.fun’s shift from a niche launchpad to a major revenue driver across Solana.
Pump.fun’s streaming platform is fueling Solana’s cultural moment.
On September 15, more than 50,000 tokens were minted in a single day, the highest daily total in the past 30 days. Most were tied to livestream-driven launches.
Yesterday alone, Pump.fun paid out over $4M in Creator Rewards, with much of it going to first-time creators. This new wave of participation is reshaping Solana’s token culture.
Solana’s app revenues paint a picture of rapid adoption mixed with volatility. Trading tools remain dominant, launchpads are unpredictable, DEX leadership is shifting, and entirely new categories like TCGs and livestream-driven memecoins are rising fast.
The ecosystem’s $193.5M in August revenues show just how far it has scaled. But the real story is in the constant rotation of leaders. Winners shift month by month, forcing every protocol to innovate or risk irrelevance.
For Solana, that churn is both a challenge and a strength. It keeps the ecosystem dynamic, attracts new creators, and ensures no single sector defines its future.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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