- Solana tops DEX volume for 5 weeks, hitting $26.2B and leading all blockchains.
- Q1 2025 app revenue on Solana hits $1.2B, led by Pump.fun and Phantom.
- Stablecoin value on Solana surges 145% to $12.5B, signaling strong ecosystem growth.
Solana recorded the highest decentralized exchange (DEX) volume across all blockchains for the fifth straight week. Its total trading volume reached $26.2 billion over the last seven days.
This data, highlighted by sources like cryptoamanclub on X, puts Solana ahead of both Binance Smart Chain (BSC) and Ethereum in this key area. BSC posted $25.5 billion in weekly DEX volume. Ethereum registered $15.7 billion for the same period.
Solana Tops DEX Volume Rankings for Fifth Consecutive Week
These volume numbers show Solana as the most transacted blockchain recently. Binance Smart Chain followed in second place. Ethereum came in third, even with its long history as the first major smart contract platform. Layer-2 solutions Base and Arbitrum also ranked in the top five, posting $8.3 billion and $6.7 billion in weekly volumes.
Related: Solana’s Momentum Grows as Traders Eye $190 Target for May
The continued high number of transactions on Solana points to a steady group of users active in its decentralized finance (DeFi) and non-fungible token (NFT) areas. This ranking also suggests a current shift in on-chain activity. Users appear to be moving from older Ethereum-based platforms toward faster networks and scaling layers.
Solana Q1 Application Revenue Reaches $1.2 Billion, Up 20%
In other good news for the network, Solana also reported a jump in application revenue for the first quarter of 2025. Total revenue climbed to $1.2 billion. That is a 20 percent increase from the previous quarter. These figures come from data put together by Syndica and published by Messari. The report looked at 39 major protocols on the Solana network.
Pump.fun, Phantom Lead Strong Solana App Revenue Growth
Pump.fun generated $257.3 million during Q1, up 91.7 percent from Q4 2024. That number includes money from its PumpSwap product in March. Phantom, a popular Solana-native wallet, recorded $164.3 million in revenue. This was a 25.4 percent quarter-over-quarter jump. Other top money-makers were Photon ($122.4M), BullX ($87.3M), Jupiter ($79.8M), and Raydium ($76M).
Related: Pump.fun Introduces 50% Revenue Sharing for Solana Meme Coin Creators
Revenue on Solana applications actually peaked in January 2025. Over $700 million was recorded that month. February and March saw lower numbers, but the quarter still showed strong results overall. An “Other” category, which includes smaller platforms, together generated $377.9 million. That is up 38.5 percent from the quarter before.
Stablecoin Value on Solana Soars 145% in Q1 to $12.5 Billion
At the same time, stablecoin usage on Solana increased a lot during Q1 2025. The total value of stablecoins on the Solana network rose 145 percent, reaching $12..5 billion.
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