Despite controversies, Solana displays impressive performance and captures most of the income from decentralized applications (DAPPS). What projects are pulling out of the game and what opportunities are looming? Are Crypto Ardrops possible?
Solana: the Bulldozer blockchain
While the Solana blockchain is currently the subject of many criticisms, in particular insofar as it remains the option of choice to launch the same in dubious ethics, it is good to remember that the famous theory of a hypercycle of the same has greatly benefited from it.
Indeed, the Solana blockchain generated nearly $ 378 million in income in 2024 and more than $ 154 million in income since the start of the year (in just 2 months!):
Graph representing the annual income of the Solana blockchain
No offense to Solana's detractors, its ecosystem, especially in decentralized applications (DAPPS), took large market share to other blockchains during 2024:
Graph representing the distribution of income generated by the DAPPS of several ecosystems
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As we can see in the above graph, Solana's ecosystem has won large market share, until reaching 75 % of total income garnered by all Dapps Crypto. According to Union, Decentralized applications on Solana generated $ 650 million in income in January.
In this article, we will be interested in the main DAPPS which support this dynamic, as well as in the fact that some of these applications could make Airdrops in the coming months.
It is also likely that these Airdrops are particularly substantial in view of the important income from the applications concerned.
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Pump.fun: the same launcher with great ambitions
Pump.fun is a now well -known name for most investors in cryptocurrencies. Its principle is of disconcerting simplicity, as much as its success: in just a few clicks, anyone is able to launch their own crypto.
Following the launch of a same on its platform, users can speculate and try to make profits, often in front of juggling with spectacular volatility. Since the creation of Pump.fun, more than 8.1 million cryptocurrencies were launched. The application has thus generated more than $ 576 million Since its launch.
In January alone, Pump.fun garnered $ 150 million:
Graphic representing the DAPPS to have generated the most income in January on the Solana blockchain
For the past few days, a rumor concerning the application has been circulating on social networks: Pump.fun would seek to replace Raydium, the decentralized exchange (DEX) on which all the cryptos are sufficiently capitalized to extract from their original platform.
Although nothing is formalized to write these lines, Pump.fun already offers its own Automated Market Maker (AMM) solution. If its solution happens to be relevant and resilient, Pump.fun income could further increase, to the detriment of those of Raydium.
It is strongly likely that Pump.fun will make an Airdrop in the coming months and that it is particularly substantial.
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Moonshot: the application to integrate new users
Moshot is a mobile application that allows its users to easily convert fiduciary currency into the same, in a few minutes, integrating various payment methods such as credit/debit cards, Apple Pay and Paypal.
Launched in June 2024, Monshot quickly gained popularity, attracting more than 20 million users in January 2025. This growth was stimulated by the launch of the same as Trump or Melania on the platform.
🪅 What is a same?
Graph representing the monthly income of the DAPP MOONSHOT
In January, Monshot recorded $ 18.4 million income according to union.
Although Moshot has not to date have been announced an Airdrop, a mechanism called “Airlock” automatically distributes awards on the ground at the 50 main holders of cryptocurrencies every 24 hours, thus encouraging users to keep their tokens to benefit from these regular distributions.
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Jupiter: the protocol holding the most locked total value (TVL) on Solana
Jupiter is a Dex aggregator operating on the Solana blockchain. Founded in 2021, it aims to simplify the trading of cryptos by consolidating the liquidity of various Dex, thus guaranteeing users the best rates for their transactions.
Over the years, Jupiter has expanded its services to include features such as advanced trading and a Launchpad from Tokens, thus becoming a central player in the Solana ecosystem. To the writing of these lines, Jupiter holds more than $ 2.1 billion in TVLthus placing it in 1st position in this metric on Solana.
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During 2024, Jupiter's monthly income increased considerably, until reaching $ 26.5 million Last January:
Graph representing the monthly income of the DAPP Jupiter
Last month, Jupiter marked the spirits by distributing a massive Airdrop of 700 million tokens JUP, of an estimated value of $ 616 million at the time of the Airdrop.
In addition, Jupiter has planned to make Airdrops each month to its users. It could therefore be interesting to explore and use this DAPP in order to be eligible for these Airdrops.
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Phantom: the reference wallet to navigate on Solana
Although several wallets are available to navigate the Solana ecosystem, the Phantom Wallet stands out particularly. With its fluid user experience and its multiple features, it is the ideal companion for navigating the Solana blockchain.
The Wallet Phantom allows, among other things, to do swaps directly from its interface by acting as ” that aggregator of aggregators ». Indeed, it intervenes on a layer higher than the aggregators that are Jupiter and OKX, by offering the best rates at an instant T.
This innovative feature allowed the Phantom Wallet to generate $ 85 million in income During the month of January:
Chart representing the monthly income of Phantom Wallet
Although the team behind the Wallet has not announced a future Airdrop for its users, it is a possibility not to be overlooked.
Indeed, since its launch, the project has raised more than $ 268 million, including $ 150 million in January. In view of the many projects to throw themselves into the deep end by launching their own cryptocurrency, It is not impossible that Phantom is considering this option in order to retain his community.
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Perspectives for the Dapps of the Solana ecosystem
As we have seen via this article, many DAPPS of the Solana ecosystem garnered important income. Although some of these applications already offer their own cryptocurrency, others may find their way, with the aim of retaining their community.
Graphic representing the weekly income of the Solana blockchain
Nevertheless, as we can see in the graph above, the revenues of the Solana blockchain had not been so weak since December 2023. It will be interesting to continue to observe this metric, in particular in the event of no return of attention around the same, which are intimately linked to the income of Solana and its DAPPS.
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Sources: Terminal artemis, union
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Investments in cryptocurrencies are risky. There is no guaranteed high yield, a product with high performance potential implies a high risk. This risk taking must be in line with your project, your investment horizon and your ability to lose part of this savings. Do not invest if you are not ready to lose all or part of your capital
Passionate about the blockchain ecosystem, I like to deepen my knowledge and share my discoveries. In perpetual quest to learn more about cryptos, I recently joined the Cryptoast Research team where I provided a weekly fundamental analysis.
Théo Zananiri
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