Solana (SOL), a blockchain known for its speed and low fees, saw its monthly revenue plunge by 80% in March 2025. Key metrics like active addresses, transactions, and total fees also witnessed sharp declines, reflecting a downturn in blockchain activity.
Ecosystem Activity Takes a Hit
Solana’s decline was driven by reduced usage across its leading decentralised applications (DApps). Active addresses dropped by 21%, while transactions fell by a staggering 82%, leading to an 81% dip in fees collected.
Notably, Pump.fun, a memecoin-focused platform, recorded a 95% revenue drop, falling well below its February figures of $74 million. Other contributors to Solana’s revenue included Raydium (36.07%), Fluxbeam (28.52%), Solana itself (26.96%), and Jupiter (4.3%).
The slump highlights the volatility of DApp-driven ecosystems, with Solana’s reliance on specific platforms exposing vulnerabilities.
SOL Prices Stay Surprisingly Steady
Despite the revenue challenges, SOL’s price remained resilient. Over the past month, it traded within a range of $113.19 to $178.63, ending March at $139.36, down just 2.56% from the previous month.
Solana also led the charts in crypto inflows alongside XRP, suggesting continued investor interest despite ecosystem struggles.
Future Outlook
Solana’s March performance underscores the volatility of blockchain ecosystems reliant on DApps. While its price stability offers some reassurance, sustained revenue drops could impact its long-term growth.
Investors and developers will be watching closely to see how Solana navigates these challenges and repositions its ecosystem for recovery.
