Solana's Dominant DApp Revenue Continues
Solana (SOL) DApps revenue has outperformed all other chains across both Layer 1s and Layer 2s for an impressive 18 consecutive months. This sustained dominance is largely attributed to the success of meme coin protocol Pump.fun, which has generated nearly $1 billion in revenue.
Other chains that have achieved significant revenue, though falling considerably short of Solana's figures, include Hyperliquid, Ethereum, the Binance Smart Chain, and Coinbase Base.
The Solana network continues to be a magnet for a diverse range of decentralized finance applications and gaming platforms. Consequently, revenue is expected to maintain its upward trajectory as most Solana DApps attract a substantial user base.
An increase in users across the Solana ecosystem directly correlates with a higher potential for a SOL price rally. Expert analysis suggests that the altcoin could surge to $400 if bullish momentum successfully overcomes the $195 – $225 price resistance levels.
SOL Price in Focus as Solana DApps Revenue Outpaces Competitors
According to a recent report by Syndica, the data clearly illustrates a shifting momentum within the Web3 landscape. Despite a slight retreat from last year's peaks, Solana continues to hold a dominant position.
Solana's revenue share remains the clear standout on the multichain chart, even as its percentage has trended lower through 2025.
While the overall trend indicates increasing market competitiveness, no other chain has come close to supplanting Solana (SOL) as the primary engine of Web3 revenue.
Concurrently, the monthly revenue chart demonstrates the remarkable strength of Solana's DApp economy. Revenue saw a slight decrease to $133 million in October, but this figure still surpasses the $100 million floor that the ecosystem has maintained since October 2024.
The significant surge experienced earlier this year, particularly the spike following the launch of the $TRUMP meme coin, established a high watermark that subsequent months have naturally found challenging to match.
Although the chain's share of total Web3 revenue may be normalizing, the underlying revenue levels remain robust and stable. In a market characterized by abrupt fluctuations, such consistency is noteworthy.
SOL Price Targets $300 Amidst Controlled Market Correction
Solana is currently experiencing a period of consolidation, but the SOL price chart indicates a market that is cooling off in a controlled manner rather than undergoing a breakdown.
Analyst Stitch notes that on the 4-hour timeframe, the SOL price chart shows the altcoin easing into the $139–$140 area after a decline from its recent peak of $171.
This pullback has not been chaotic. Instead, each downward movement has been met with quick, modest bounces, and the selling pressure appears to be diminishing.
While the moving averages are trending lower, the price candles are tightening at the support level, a common indicator that the market is running out of sellers, not confidence.
The level Solana is currently testing is significant as it has served as a floor on multiple occasions. The $138–$140 zone has historically attracted buyers, and the price is once again pressing into this area with smaller candles and less follow-through.
Markets often stabilize at such levels before reversing, particularly after a sharp decline.
The underlying flow of capital provides a strong case for higher prices. As stitchdegen pointed out, ETF inflows have already surpassed $342 million, and major funds have increased their exposure by over 670%.
These figures represent significant long-term buying activity rather than speculative retail interest, even as the price experiences a pullback. Historically, Solana's most substantial rallies have followed periods of quiet institutional accumulation.
The fundamental factors further support an upward trend. Solana's ecosystem is expanding at a pace few other chains can match. The emergence of AI agents, the growing traction of prediction markets, and integrations with major companies like Western Union, Cash App, and SoFi are effectively channeling Solana into mainstream consumer channels.
Total Value Locked (TVL) continues to rise, DEX volumes on Jupiter remain strong, and the network has maintained stability throughout the year. This consistency is crucial for valuations, as investors tend to favor reliable infrastructure.
SOL Price Technical Outlook: Path to Higher Valuations
From a technical standpoint, the path toward significantly higher prices appears to be established. If the SOL price can hold the $138–$140 support level, a recovery into the mid-$150s is the anticipated next move.
The next major hurdle lies between $195 and $225, representing a significant cluster of supply. Successfully breaking through this area would open the possibility of a return to the $260 region, which was the previous high recorded in 2021.
The potential for a move towards $400 becomes more concrete once the asset surpasses its prior all-time high, as traders then look to extensions of the previous trend.
For Solana, the standard 1.618 Fibonacci extension of its last major cycle points directly to the $380–$420 zone.
In essence, the chart itself projects this area as the subsequent major target if Solana convincingly breaks above $260.