1/ Solana’s DApp economy printed one of its strongest rebounds in months in January. Revenue up. Concentration rising. New highs across multiple verticals. January 2026 breakdown 🧵👇

2/ @Solana led DApp revenue across chains for 21 consecutive months. Solana now captures 41% of all Web3 DApp revenue, up from 33% in December.

@solana 3/ Global Web3 DApp revenue rebounded to $385M. Revenue rose 36% MoM across the broader market.

@solana 4/ On @Solana, DApp revenue climbed to $158M. The 72% MoM jump ended a five-month downtrend.

@solana 5/ Revenue recovery was broad-based across Solana. 49 Solana protocols posted revenue gains in January, while just 13 declined.

@solana 6/ The top 8 DApps captured a record 78% of Solana DApp revenue. Revenue is increasingly concentrated, with fewer protocols capturing a larger share as the ecosystem scales.

@solana 7/ @Pumpfun earned $50M in January, up 50.1% MoM. The protocol launched Pump Fund, a new investment arm deploying $3M across 12 ecosystem projects via its “Build in Public” program, reinvesting cash flows into growth.

@solana @Pumpfun 8/ @TradingTerminal doubled its revenue to an ATH of $3.7M. Terminal (formerly Padre) is one of the fastest-growing memecoin DApps in this cohort over the past few months.

@solana @Pumpfun @TradingTerminal 9/ @JupiterExchange revenue reached $9.9M in January, up 50.3% MoM. The protocol launched $JupUSD, expanding its product surface. A $35M raise from @paraficapital and a new @OndoFinance partnership for tokenized US stocks strengthened the protocol’s positioning.

@solana @Pumpfun @TradingTerminal @JupiterExchange @paraficapital @OndoFinance 10/ @theprivacycash’s revenue hit an ATH as privacy heated up. Privacy Cash lets users deposit into a shielded pool and withdraw to a new address, breaking the onchain link between deposit and withdrawal. Deposits are free, while withdrawals cost 0.35% plus 0.006 SOL.

@solana @Pumpfun @TradingTerminal @JupiterExchange @paraficapital @OndoFinance @theprivacycash 11/ @sanctumso revenue surged 168.6% MoM to $760k. This was the protocol’s sharpest monthly revenue increase.

@solana @Pumpfun @TradingTerminal @JupiterExchange @paraficapital @OndoFinance @theprivacycash @sanctumso 12/ @streamflow_fi revenue grew to $132k. Increasing its product surface, the protocol announced USD+, a yield-bearing Solana stablecoin backed by US treasuries.

@solana @Pumpfun @TradingTerminal @JupiterExchange @paraficapital @OndoFinance @theprivacycash @sanctumso @streamflow_fi 13/ @metaplex revenue softened alongside ’s Token-2022 migration in November. Since the shift, Token-2022 mints have exceeded SPL mints monthly. On @Solana, monthly minting has favored Token-2022 for 3 consecutive months.

@solana @Pumpfun @TradingTerminal @JupiterExchange @paraficapital @OndoFinance @theprivacycash @sanctumso @streamflow_fi @metaplex 14/ @jito_sol revenue ticked up to $549k after five months of declines. Jito’s governance proposal JIP-34 proposes a 20M $JTO budget for liquidity provisioning and ecosystem incentives, which could help stimulate revenue.

@solana @Pumpfun @TradingTerminal @JupiterExchange @paraficapital @OndoFinance @theprivacycash @sanctumso @streamflow_fi @metaplex @jito_sol 15/ Physical trading cards became a durable @Solana revenue category. Category revenue peaked at $10.3M in September and later stabilized around ~$3M. Even after the September spike, the baseline held in the low single-digit millions.

@solana @Pumpfun @TradingTerminal @JupiterExchange @paraficapital @OndoFinance @theprivacycash @sanctumso @streamflow_fi @metaplex @jito_sol 16/ @Solana DePIN revenue hit an ATH of $2.6M. Monthly revenue climbed in late 2025 and has held above $2M since. @helium accounted for 84% of Solana DePIN revenue. In early Jan 2026, the protocol paused HNT buybacks and redirected funds to subscriber growth.