Solana (SOL), a fast-transacting and fee-efficient blockchain with high performance, experienced an 80% decrease in monthly earnings in March 2025.
The decrease is reflected in leading indicators, including active addresses plummeting by 21%, transactions declining by 82%, and total fees garnered going down by 81%. The sudden dip indicates lower usage on the blockchain, which negatively impacts the health of its overall ecosystem.
The decline in revenue is primarily due to a deceleration in activity within top Solana-based decentralized applications (DApps).
Raydium accounted for 36.07% of the revenue, with Fluxbeam (28.52%), Solana itself (26.96%), Jupiter (4.3%), and Pump.fun (4.15%). Specifically, Pump.fun, which had registered $74 million in February, recorded its revenue declining 95% in March, falling short of its February levels, which emphasizes the volatility in Solana’s memecoin-powered ecosystem.
Despite these revenue losses, Solana prices have remained reasonably steady. SOL has ranged from a low of $113.19 to a high of $178.63 in the last 30 days. Additionally, Solana is leading the charts of crypto inflows along with XRP. As of March 27, 2025, Solana was trading at $139.36, down only 2.56% from the previous month.
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