1/ July was a strong month for @solana, with onchain activity showing resilience across various fronts:
- Real Economic Value: $87M, +38% MoM
- App Revenue: $161M, +50% MoM
- DEX Volumes: $115B, +42% MoM
- Stablecoin Supply: $11.46B, +6.6% MoM
Let's dive into the data 👇
2/ Solana's REV hit $87M in July, up 38% MoM.
For the first time ever, Hyperliquid (HyperCore + HyperEVM) surpassed Solana in monthly revenue ($88M vs. $87M).
July's market share snapshot:
- Hyperliquid: 26.9%
- Solana: 26.5%
- Tron: 18.7%
- Ethereum: 16.8%
- Others: 11.1%
3/ Solana apps generated ~$161M in revenue in July, up 50% MoM.
Top apps by revenue:
- Axiom: $41M (26%)
- Letsbonkfun: $37M (23%)
- Pump: $17M (11%)
- Raydium: $16M (10%)
Note that we are tracking a subset of apps, so actual revenue may be higher.
5/ Regarding DEX dominance, Raydium leads overall volumes with 35% market share.
Meteora's trading volume surged 150% MoM, reaching $20B in July, positioning it the second-leading DEX on the chain with 18% market share.
6/ Solana's stablecoin supply increased by 6.6% MoM, closing July at $11.46B.
USDC circulating supply on Solana increased by about $650M in the past month. Meanwhile, USDG supply grew by 44% to $148M.
7/ Launchpad revenue on the network amounted to $68.4M in July, a 50% MoM increase.
Letsbonkfun accounted for 55% of this figure ($37M), with Pump trailing at 22% ($15M).
8/ To stay updated on Solana's monthly developments, including in-depth discussions about the latest Solana Improvement Documents (SIMDs), onchain financials, DeFi activity, and more, subscribe to @blockworksres and check out my latest report.
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