Key Takeaways:
- Solana’s Chain GDP soared to $1.2B in Q1 2025, led by Pump.fun, and Phantom.
- App RCR surged to 142.8%, highlighting app monetization strength.
- DeFi TVL dropped in USD but grew in SOL, with Kamino maintaining the lead.
Solana started 2025 on an explosive note, fueled by surging user interest and speculation surrounding meme coins such as TRUMP and MELANIA. According to Messari’s Q1 2025 “State of Solana” report, the chain’s Chain GDP as total application-generated revenue grew 20% quarter-on-quarter from $971 million to $1.2 billion.
January itself contributed well over half of that at $699 million. The highest revenue generators were Pump.fun at $257 million, Phantom at $164 million, and Jupiter at $80 million, showing an increase of 79%.
Decentralized trading platforms became the driving forces behind the revenue growth, in particular during January’s 153% increase in DEX volumes…
