Solana had a successful month in August, with app revenues at $148M

Solana activity set a series of records in August, while retaining its peak app revenues. For the past month, Solana locked in $148M from app revenues, mostly linked to DEX trading. 

Solana saw a month of robust activity in August, as its major apps locked in over $148М, of which trading platforms got around $85M. The chain followed the overall crypto success, breaking a series of records for the past month. While Ethereum was trending, Solana also expanded in several metrics and new markets. In the past month, Solana activity remained above 3.3M daily active users on most days, with around 20M daily active users for all other chains. 

Over the course of the past month, Solana increased its value locked from $8.5 to $9.5B, extending the trend into September. Value locked continued to grow to $11.51B, with over $12.26B in stablecoin liquidity. 

For the past month, SOL also regained its previous positions, moving from $163 to a peak above $215. For the past month, SOL open interest expanded by over 30%, remaining above $6B. SOL also saw the bulk of derivative settlements on its own chain, instead of on centralized exchanges. 

Solana grew on BTC inflows, LST, and RWA tokenization

Solana also produced between $1M and $2M in daily fees regularly. App revenues produced over $7.4M in 24 hours, surpassing the basic Solana fee structure. The Solana chain continues to surpass other networks for over eight months in a row, driven by a mix of trends and use cases.

For the past month, Solana achieved peak perpetual futures volumes of over $43.8B, thanks to Drift Protocol. Perpetual futures trading got a boost from SOL token swaps, as the price rallied above $200. Solana aims to gain a share of the perpetual futures markets, recently outcompeting Ethereum.

August on Solana, by the numbers:

➔ $148 million in app revenue, up 92% from 2024 and surpassing all other networks

➔ All-time high perps volume of $43.8 billion

➔ 2.9 billion transactions, up 46% y/y and more than 4x all other networks combined

➔ $144 billion in DEX… pic.twitter.com/uPIZXObxW6

— Solana (@solana) September 4, 2025

The other growth vector was RWA tokenization, as more tokenized stocks moved to Solana. The sector is constantly breaking new records, with over $500M in value. 

Another trend in August was liquid staking tokens, which expanded their influence on DeFi protocols. Marinade Finance provided the biggest growth in the past month, especially drawing attention with its token burn. 

Solana also invited inflows of BTC, offering a bridged tokenized version, which was then mostly used in DeFi. 

Solana token launches expand by over 30%

In August, token launches on Solana accelerated once again. After July’s score of around 1M tokens, in August, the Solana network produced 1.34M new tokens. 

📊DATA: In August, over 1.34 million new tokens launched on @Solana, mostly memecoins. pic.twitter.com/C5n7rhQS66

— SolanaFloor (@SolanaFloor) September 4, 2025

The newly launched tokens tracked the meme token wars in the past month, where other platforms outperformed for a few days. Most tokens on Solana were still meme-related, and most did not graduate to DEX. Despite this, trench trading saw a recovery in August.

However, Pump.fun remained the main venue for token launches, regaining its position as a top fee producer.

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