How Did Pump.fun Spark Solana’s Stunning $2.4B Revenue Surge?
Who would’ve thought that in a year when meme coin volumes dipped, a Solana-based launchpad like Pump.fun could cash in big time and steal the revenue spotlight? It’s almost like the crypto playground is still buzzing, even if everyone’s cry-ing “the bubble’s popped!” While meme trading took a slight nosedive, Pump.fun and its fellow launchpads didn’t just survive—they thrived, generating eye-popping revenues and pushing token launches to new heights. What’s going on beneath the surface that keeps these platforms turning such massive profits despite the cooling hype? Let’s dive into Solana’s newest revenue revelations and figure out how launchpads are rewriting the playbook on crypto profits. LEARN MORE.
Despite falling meme coin volumes in 2025, Solana revealed Pump.fun and launchpads generated massive revenue.
Solana-based meme coin launchpad, Pump.fun, emerged as one of the ecosystem’s top revenue-generating applications.
Pump.fun was listed among seven Solana apps that generated more than $100 million in revenue during the year, as meme coin issuance and speculative trading remained a major activity driver on the network.
Pump.fun Stole the Spotlight
According to the latest findings by Solana, alongside Pump.fun, five other launchpads each recorded over $1 billion in volume in 2025. They collectively contributed to launchpad revenues doubling year-over-year to $762 million.
Pump.fun also played an important role in rising token creation as launchpads collectively generated 11.6 million tokens, more than double the prior year. However, only a small fraction, about 0.89%, progressed beyond bonding curve launches. Despite meme coin trading volume declining 10% year-over-year to $482 billion, Solana noted that activity was still up roughly 80 times compared with two years earlier.
Beyond Pump.fun, Solana reported that total app revenue across the network reached $2.39 billion in 2025. This figure was up 46% year over 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, earning under $100 million, collectively generated more than $500 million in revenue during the year. At the protocol level, Solana said network REV climbed to $1.4 billion, which was a 48-fold increase over the past two years, while average transaction fees continued to decline, and median fees fell to $0.0011.
Solana’s broader network metrics pointed to rising usage and asset activity. The blockchain processed 33 billion non-vote transactions in 2025, and averaged 1,054 non-vote transactions per second. Meanwhile, 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 in stablecoins were transferred over the year. Tokenized equities, on the other hand, debuted on the network with $1 billion in supply.
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.
Staked SOL reached record highs in 2025, while Solana ETFs recorded $1.02 billion in net inflows amidst heightened institutional demand.
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