Pump.fun leads as Solana app sales reach $2.4 billion by 2025

Despite declining meme coin volumes in 2025, Solana revealed that Pump.fun and launchpads generated huge revenue.

The Solana-based meme coin launcher, Pump.fun, emerged as one of the ecosystem’s top revenue-generating applications.

Pump.fun was named as one of seven Solana apps that generated more than $100 million in revenue during the year, as meme coin issuance and speculative trading remained a major driver of activity on the network.

Pump.fun stole the spotlight

According to Solana’s latest findings, there are five other launch pads each besides Pump.fun included volume of more than $1 billion by 2025. Together, they helped double the launch platform’s revenues year-over-year to $762 million.

Pump.fun also played a major role in surging token creation, as launchpads collectively generated 11.6 million tokens, more than double the previous year. However, only a small portion, around 0.89%, made it past the launch of the bond curve. Despite meme coin trading volume falling 10% year-over-year to $482 billion, Solana noted that activity was still about 80 times higher than two years earlier.

In addition to Pump.fun, Solana reported that total app revenue across the network reached $2.39 billion by 2025. This figure increased by 46% year on year and marked a new all-time high. In addition to Pump.fun, revenue leaders included Axiom Exchange, Meteora, Raydium, Jupiter, Photon and Bullx, each generating more than $100 million.

Apps on the network that grossed less than $100 million collectively generated more than $500 million in revenue during the year. At the protocol level, Solana said the network’s ROE increased to $1.4 billion, which was a 48-fold increase over the past two years, while average transaction fees continued to decline and average fees fell to $0.0011.

Solana’s broader network metrics indicated increasing usage and asset activity. The blockchain processed 33 billion non-voting transactions by 2025, and an average of 1,054 non-voting transactions per second. Meanwhile, the number of daily active wallets averaged 3.2 million, up 50% year-over-year.

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Stablecoin supply more than doubled to $14.8 billion, and $11.7 trillion of stablecoins were transferred over the year. Tokenized equity, on the other hand, debuted on the network with a $1 billion offering.

DEXs and ETFs

Additionally, decentralized exchange volume reached $1.5 trillion, led by Raydium, Orca and Meteora, while DEX aggregators such as Jupiter accounted for a growing share of trading activity.

SOL stakes reached record highs in 2025, while Solana ETFs recorded net inflows of $1.02 billion amid increased institutional demand.