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Solana’s on-chain GDP grew by over 300% in Q4, led by memes and bot activity
The post Solana’s on-chain GDP grew by over 300% in Q4, led by memes and bot activity appeared on BitcoinEthereumNews.com. Solana’s on-chain GDP, or the collected fees of all apps, reached a peak in Q4, 2024. The growth was driven by Pump.fun and bots, with traffic flowing into the top DEX. Solana achieved peak on-chain GDP in 2024, based on the fees for its top apps. The chain attracted more activity through meme token launches, both from Pump.fun and from outside projects. As a result, Solana’s on-chain GDP rose to a total of $840M in the last quarter of 2024. For Q3, the chain attracted $268M in revenues. Solana’s validators are heavily subsidized to support this kind of traffic, and in most cases, the app teams retain all the revenues. Solana achieved one of the best quarterly results for all chains in history, potentially setting up the standard for on-chain products and for driving user demand. Solana still operates at a loss The main Solana network is still structured in a way that requires it to operate at a loss. The biggest expense is the payouts to validators, based on the current SOL issuance schedule. Payouts in the last quarter of 2024 reached $324M in October, $490M in November and $515M in December, reflecting the increased activity. Despite the growth in fees, the main chain posted a loss each month, independent of the results of apps. SOL issuance increased to levels not seen since 2021, boosting payouts to validators, in addition to priority fees and bribes. In Q4, the issuance of SOL was valued at $1.24B, compared to a $1.37B peak in the last quarter of 2024. The SOL inflation is at 4.74%, with a large part of the supply still locked. SOL issuance accelerated at the end of 2024, almost reaching the levels from Q4, 2021. | Source: Blockworks SOL burns reached a peak on January 19, when the…
The post Solana’s on-chain GDP grew by over 300% in Q4, led by memes and bot activity appeared on BitcoinEthereumNews.com.
Solana’s on-chain GDP, or the collected fees of all apps, reached a peak in Q4, 2024. The growth was driven by Pump.fun and bots, with traffic flowing into the top DEX. Solana achieved peak on-chain GDP in 2024, based on the fees for its top apps. The chain attracted more activity through meme token launches, both from Pump.fun and from outside projects. As a result, Solana’s on-chain GDP rose to a total of $840M in the last quarter of 2024. For Q3, the chain attracted $268M in revenues. Solana’s validators are heavily subsidized to support this kind of traffic, and in most cases, the app teams retain all the revenues. Solana achieved one of the best quarterly results for all chains in history, potentially setting up the standard for on-chain products and for driving user demand. Solana still operates at a loss The main Solana network is still structured in a way that requires it to operate at a loss. The biggest expense is the payouts to validators, based on the current SOL issuance schedule. Payouts in the last quarter of 2024 reached $324M in October, $490M in November and $515M in December, reflecting the increased activity. Despite the growth in fees, the main chain posted a loss each month, independent of the results of apps. SOL issuance increased to levels not seen since 2021, boosting payouts to validators, in addition to priority fees and bribes. In Q4, the issuance of SOL was valued at $1.24B, compared to a $1.37B peak in the last quarter of 2024. The SOL inflation is at 4.74%, with a large part of the supply still locked. SOL issuance accelerated at the end of 2024, almost reaching the levels from Q4, 2021. | Source: Blockworks SOL burns reached a peak on January 19, when the…
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