Solana Apps Outearn Ethereum Despite Slumping Price

Solana's network of apps is generating significant revenue, outperforming Ethereum despite its own price slump. According to DeFiLlama, Solana's apps generated $143 million over the past 30 days, with a daily high of $4.64 million. In comparison, Ethereum's app revenue reached only $47.26 million in the same period.

The disparity between Solana and Ethereum's app revenue is substantial, with Solana accounting for 38% of total on-chain app revenue in August, according to AiCoin. This trend has continued into September, with Solana's apps generating more revenue than Ethereum's.

However, it's worth noting that Solana's strength is largely driven by its memecoin infrastructure and trading activity. While this revenue is significant, it's not evenly spread across a thousand serious business applications.