PANews reported on May 18 that according to News.bitcoin, Messari's "Solana Status Report for the First Quarter of 2025" showed that in the first quarter of this year, Solana blockchain achieved its strongest performance in 12 months, with Solana's total revenue increasing by about 20% from $970.5 million in the previous quarter to $1.2 billion. January was particularly eye-catching, accounting for nearly 60% of the total revenue for the quarter.

The popular memecoin issuance platform Pump.fun topped all apps with $257 million in revenue, followed by Phantom with $164 million. Photon ranked third with $122 million (up 13%), Bullx ranked fourth with $87 million (up 19%), and Jupiter ranked fifth with $80 million (up 79%).

Meanwhile, the report data shows that the total locked value (TVL) of DeFi on Solana (in US dollars) fell 64% to $6.6 billion. At the same time, the market value of stablecoins on Solana increased significantly by 145% to $12.5 billion, mainly due to the launch of Trump memecoin on January 17. The market value of the USDC stablecoin increased by 148% month-on-month to $9.7 billion. Its market value is four times that of its main competitor USDT, which increased by 154% to $2.3 billion. During this period, the average transaction fee fell 24% month-on-month to 0.000189 SOL ($0.04), while the median transaction fee fell 7% to 0.000008 SOL ($0.0015).