Total App Revenue Climbs To $840M In Record-Breaking Quarter
A recent report by market intelligence firm Messari highlighted Solana (Sol)’s outstanding performance in the fourth quarter of 2024, believing it could be the best quarter for any blockchain in history.
Solana becomes the second largest Defi network
this Report Revealing a quarter-quarter growth of 213% of chain GDP, the growth in total application revenue generated by Solana Network on Solana Network, from $268 million in the third quarter to $440 million in the third quarter . November was the most profitable month, contributing $367 million to the ecosystem.
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The leading applications driving revenue growth are pumps. Fun generated $235 million, marking a 242% increase in QOQ, while photon growth was even more explosive, up 278% and bringing $140 million.
The overall rising revenue can be attributed primarily to speculation from new members and the surge in AI-related cryptocurrencies initiated during this period.
Solana’s Decentralized Finance (DEFI) Total value locked (TVL) grew 64% QOQ to $8.6 billion and positioned it as the second largest defi network, surpassing Tron in November.
When expressed in SOL, the QOQ of Defi TVL increased by 28%, totaling 46 million SOL. The average daily diversified exchange (DEX) number also soared 150% QOQ to $3.3 billion due to the revival of Memecoin trading and the rise of AI-Them-Them-Tokens.
As far as stablecoins are concerned, Solana’s market capitalization has increased by 36% to $5.1 billion, making it the fifth largest Stablecoin Competing markets between networks. USDC’s dominance continues, with its market cap growing 53% to $3.9 billion, capturing 75% of its market share.
Increase activity and guessing
this Liquid evaporation rateThe percentage of liquid mucus liquids rose 33% to 11.2%, indicating that there are now a large number of qualified SOL supplies (66%) that have been stored. This growth is crucial to a thriving ecosystem built on load-bearing sols.
The NFT market also increased, with an average daily volume increasing by 7% to $2.7 million. Tensors occupied that space, reaching $103 million in volume (14% QOQ increase), while Magic Eden’s volume decreased by 28% to $68 million.
The Internet activity metrics reflect strong engagement, with average daily expense payers increasing by 171% to 5.1 million. The number of new fee payers was even larger, up 189% to 3.8 million. The average daily non-voting transactions grew by 32% to 81.5 million.
Interestingly, the average transaction fee attracted attention, increasing QOQ to $0.05 by 122%, which is driven by growth Online activities Speculation is made on the more favorable regulatory environment for US cryptocurrencies.
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Despite these gains, Staked Sol’s decline was 5% in the fourth quarter, partly because FTX Legacy unlocked its token. But, Thor’s Market value It grew 27% QOQ to $91 billion, and it reached $120 billion in November.
By the end of the quarter, SOL ranked sixth among all cryptocurrencies with market cap, trailing Bitcoin (BTC), Ethereum (ETH), Tether’s USDT, XRP and Binance Coin (BNB).
Currently, SOL is trading at $199, down 22% over the past two weeks as the growing macroeconomic challenges have had a significant impact on risky assets.
Charts from Dall-E’s characteristic images, tradingView.com
