In T1 2025, despite a 20% increase in application income, Solana faces a drop of 64% TVL, transaction costs decreasing by 24% compared to the previous quarter.
Solana consolidates its position on the cryptography market, but its future will depend on its ability to meet the challenges and support the momentum of growth.
The first quarter turnover strikes $ 1.2 billion: January is distinguished
According to a Messari report, Solana (soil) achieved total turnover of the application (channel GDP) of $ 1.2 billion in the first quarter of 2025. This result marks growth of 20% compared to the previous quarter, with $ 970.5 million. This is the most efficient quarter for Solana in the past 12 months, demonstrating a strong recovery of the ecosystem after a year of significant volatility.
“Solana’s economy is booming,” commented crypto jokes on X.
In particular, January contributed nearly 60% of the total revenues all over the quarter. This growth reflects the growing demand for applications on Solana, especially in rooms, Dex and cryptocurrency wallets.
The recovery of Solana can be awarded to several factors, including low transaction costs and high treatment speeds, which are competitive advantages of this blockchain compared to competitors like Ethereum.
Pump.fun takes the lead
Among the Dapps of Solana, Pump.fun has become an out -of -competition leader with a turnover of $ 257 million, representing a significant part of the total turnover of the ecosystem.
The success of Pump.fun can be explained by the continuous trend of the pieces even capturing the attention of the community, especially after the launch of the room even Trump on January 17, which stimulated commercial activity on Solana. However, the rapid explosion of the pump. Fun has brought many bad consequences on the market.
Follow Pump.fun is the ghost portfolio, which obtained second place with a turnover of $ 164 million. Phantom has long been one of Solana’s most popular portfolios because of its user -friendly interface and its transparent integration with various DEFI and NFT applications.
Photon ranks third with a turnover of $ 122 million, up 13% compared to the previous quarter, demonstrating regular growth for the application.
DEFI TVL falls, but the stablecoins see revolutionary growth
Despite the impressive DAPP income growth, the total locked value (TVL) in protocols DEFI on Solana fell 64%, reaching $ 6.6 billion. This decrease can result from the volatile feeling of the market, as investors have withdrawn the capital of the protocols DEFI to evolve towards safer assets such as stablecoins.
Meanwhile, the Stablescoin sur solana market experienced revolutionary growth, its total value increasing 145% to 12.5 billion dollars. In particular, the USDC – the main stablecoin on Solana – recorded an increase of 148% compared to the previous month, reaching a value of $ 9.7 billion, four times that of its main competitor, USDT.
The USDT has also shown solid performance, increasing by 154% to a value of $ 2.3 billion.
Transaction costs drop
Another highlight of Messari’s report is the reduction in Solana transaction costs. The average transaction costs in T1 2025 dropped 24% compared to the previous quarter, falling to 0.000189 soil (equivalent to $ 0.04).
This level of low fee is one of the main reasons why Solana continues to attract users and DAPPs, especially in the sectors such as parts even, trading deffi and nft.
The first quarter of 2025 marked a significant step forward for Solana, the revenues of the application reaching $ 1.2 billion. However, the decrease of 64% of TVL DEFI is a worrying signal. The ecosystem is confronted with many challenges, including the volatile feeling of the market and competition from other blockchains.
To maintain its growth dynamics, Solana must continue to take advantage of its advantages in low transaction costs and high treatment speeds while addressing the problems related to DEFI to attract more investor capital.
Soil is negotiated at $ 161.22 at the time of the press. The technical indicators suggest that Sol enters a probable consolidation phase near the key support. However, some traders remain very optimistic about it.
“$ Sol – Sol Monthly Chart forms a model of massive ascending triangle. The rupture will trigger a massive step,” commented an analyst
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