Solana Surges to New Heights with Record On-Chain Revenue

On-chain application revenue reached a new high in September, exceeding $467 million across 356 chains tracked by DefiLlama. This represents a 27% increase from the previous month and the highest total since October last year.

Solana led the pack, accounting for $144.25 million, or roughly 31% of the total. This marks an eight-month high for the network, its strongest showing since January.

Robinhood Chain came in second, nearly tripling its monthly revenue to $84.39 million. Hyperliquid and Ethereum took third and fourth places, respectively, with $60.56 million and $55.43 million in app revenue.

The growth in app revenue can be attributed to the increasing demand for on-chain products, with launchpads and memecoin trading driving the activity in September. StonkFun, a launchpad that went live in late July, was a significant contributor to Solana's revenue.