SOLANA·HUB
DE
Market

Solana app revenue rises to $299.1 million in the third quarter

Blockworks puts Solana app revenue at $299.1 million in the third quarter, up 48 percent. Tokenized stocks did $7.1 billion. Spot SOL ETPs took in $492.3 million net.

SOLANA·HUB Editorial
Source: Blockworks

App revenue

Blockworks puts application revenue on Solana at $299.1 million for the third quarter of 2026. That is 48 percent more than the $201.5 million in the second quarter, and the highest quarter since the third quarter of 2025.

Real Economic Value was $75.7 million, also up 48 percent from $51.0 million in the prior quarter. Blockworks defines REV as base fees, priority fees, and Jito tips combined. The report calls it the first quarterly increase since the fourth quarter of 2024.

The Solana Token Holder Report for the third quarter came out on 15 October. On 16 October, Solana posted four charts from it on X and pointed to Blockworks. The figures in this piece are from the PDF.

September was the strongest month since January, the report says, with $117.1 million of app revenue and $30.1 million of REV.

Pump led app revenue at $121.5 million, 41 percent of the total. Collector Crypt followed at $35.0 million, and Fomo at $24.9 million. Pacifica was at $18.0 million, and Axiom at $16.2 million.

Tokenized stocks

Tokenized-equity volume was $7.1 billion, up 40 percent from $5.1 billion in the second quarter. September alone reached $4.4 billion, a monthly high.

Across all chains, tokenized-equity volume was $49.7 billion. That is about nine times the prior quarter. Solana’s share of that volume fell from 95 percent in the second quarter to 14 percent in the third.

In September the share was 19 percent, after 10 percent in August. The report ties the September jump to a wider set of markets. Holders rose 88 percent in the first twelve days of the month, to more than 800,000.

The report says StonkFun and Pump opened trading pairs backed by tokenized stocks.

How those tokens are set up is covered in Tokenized stocks on Solana. Solana’s own count of listings is in the 11 October report.

Spot trading and spot ETPs

Spot DEX volume was $197.2 billion, up 23 percent from $160.8 billion in the second quarter. Solana’s share across chains was 36 percent.

The report calls that the ninth straight quarter above 30 percent. Ethereum was at 17 percent, BNB Chain at 14 percent, and Robinhood Chain at 12 percent.

Spot ETPs on SOL recorded $492.3 million of net inflows, against $113.7 million in the second quarter. The report calls that more than four times Q2, and the strongest quarter since the third quarter of 2025.

North America accounted for $450.8 million. Europe was at $41.4 million, after three quarters of outflows. Spot ETP assets ended the quarter at $3.7 billion.

US spot Solana ETFs in the week through 9 October are in a separate report. That week sits after the quarter this report covers.

Transactions

The network processed 14.2 billion non-vote transactions, up 45 percent from 9.8 billion in the second quarter. Of those, 63 percent succeeded and 37 percent reverted.

August set the monthly record at 5.2 billion. Non-vote transactions per second averaged about 1,790, up from about 1,250 in the prior quarter.

The report says reverted transactions are most often tied to automated strategies, such as arbitrage bots. Most are trades that hit their slippage limit and reverted as designed.

What to watch

  • Whether Solana’s share of tokenized-equity volume slips again after 19 percent in September. The report flags that line itself
  • How US spot Solana ETF flows look after the quarter ended

Sources

#blockworks #revenue #rwa #etp

Related Articles