Solana Sees Record-Breaking App Revenue Amid Institutional Interest
Solana's ecosystem has seen significant growth in September, driven by a notable increase in application revenue. The month saw a record $180 million in app revenue, accounting for 32% of overall blockchain app revenue. This surge aligns with increased on-chain trading activity, as evidenced by nearly $8 million in daily decentralized application (dApp) revenue on September 11 and weekly decentralized exchange (DEX) volume reaching $16.592 billion.
Institutional appetite for Solana remains steady, with U.S. spot Solana ETFs attracting $188.2 million in net inflows during the week ending September 25. This is the second-highest weekly inflow since these products launched and reflects ongoing institutional interest in the network.
Despite a recent price pullback, Solana's total value locked (TVL) has increased, climbing above $6.5 billion in recent days. This rise in TVL points to broadening use cases beyond price speculation and reinforces the network's strong fundamentals.