InvestNot yet confirmed elsewhere1 publisher2 min readPublished
Solana keeps over 91% of meme-token spot trading after Robinhood's launchpads slip to 5%
Solana takes over 91% of meme-token spot trading on major DEXs, according to Cryptopolitan. Robinhood's share is back to 5% after its August launchpad push, and Solana has led app revenue for ten straight quarters.
The Investor · Invest desk
Key figures, per Cryptopolitan: Solana app revenue in Q3 was over $362M, up from $253M in Q2; Solana has been the app revenue leader for 10 consecutive quarters; Pump.fun's total Q3 earnings were $91.48M; Solana daily active addresses reached over 50M in October.
| Figure | Value | Note | Claim |
|---|---|---|---|
| Solana app revenue, Q3, over | $362M | up from $253M in Q2 | 3 |
| App revenue leader streak | 10 quarters | 2 | |
| Pump.fun earnings, Q3 | $91.48M | 8 | |
| Daily active addresses | 50 million, over | 11 |
What happened
- Solana's apps booked over $362 million of revenue in Q3, up from $253 million in Q2, according to Cryptopolitan.
- Pump.fun earned $91.48 million in Q3, ending a run of declining quarterly revenue.
- Daily active addresses on Solana roughly doubled over the past quarter to over 50 million in October.
Why it matters
- contradiction The streak measures rank. Q3's rise of about 43% is the first quarter-on-quarter gain of 2026, so Solana held first place through quarters in which revenue did not grow.
- exposure If Pump.fun's earnings are counted on the same basis as Solana's app revenue, one launchpad is about 25% of the chain's quarter, and a second meme fade lands directly on the headline figure.
- cost Pump.fun paid out over $31 million in creator fees and cashbacks, about a third of its Q3 earnings, to hold its users. That is revenue it chose not to retain.
The two shares cannot be added with confidence. Cryptopolitan gives Solana's 91% as its portion of meme-token spot trading on major DEXs [1] and the 5% as Robinhood's share of meme-token trading [5]. If both sit on one base they total 96% and leave 4% for every other venue [14], but the article does not say they share a base. It does say Solana lost ground briefly in August, when Robinhood advanced its own launchpads [6].
The case for a durable lead rests on October, or rather on one month of it. Pump.fun's daily volume topped $160 million on several days [7], and daily launches ran regularly above 35,000 from nearly 20,000 creator addresses [12]. That is at least 1.75 launches per address a day [15]. Cryptopolitan says the platform spent the months before that in meme fatigue [13].
SOL trades at $111.47 after a 47.9% gain over three months [10], which puts it at about $75 at the start of that window [16]. We think the price has moved ahead of the revenue. Q4 revenue is not in yet, and the $362 million is a Q3 figure [3].
On the 91% itself, Cryptopolitan's explanation is that it reflects appetite for spot trading in assets that are not yet exposed to perpetual futures markets [21]. We'd expect that to be the weak point. It ties the share to a property of the tokens, and a token loses that property once a perpetual market lists it. Against that, launches at 35,000 a day keep supplying tokens with no perpetual market [12].
What to watch
- Pump.fun daily volume against the $160 million October peak, and whether launches stay above 35,000 a day through Q4.
- Robinhood's meme-token share against the 5% reported, and whether it re-advances its launchpads.
- Solana's Q4 app revenue against Q3's $362 million, and whether it stays more than double Hyperliquid's daily level of under half of Solana's $3 million.
Clarity's read
What the record supports and how the coverage leans. The claims behind it follow.
Reality
- Evidence40
- Adoption72
- Hype gap+20
- Incentives
- Insufficient
- Confidence45
Claim ledger
Ranked by verification strength, evidence, and original report placement.
- [1]
Solana carries over 91% of all meme token spot trading on its major DEXs.
- [2]
Solana has been the app revenue leader for 10 consecutive quarters.
- [3]
Solana achieved over $362M in app revenues in Q3, up from $253M in Q2.
- [4]
Q3 is the first quarter-on-quarter growth in 2026 for Solana app revenue.
- [5]
The share of Robinhood meme token trading is down to 5%.
- [6]
Solana briefly took a step back in meme token activity in August, when Robinhood advanced its own launchpads.
- [7]
Pump.fun's daily volume peaked above $160M for multiple days in October, a one-year peak.
- [8]
Pump.fun reached $91.48M in total earnings in Q3, breaking the launchpad's declining quarterly revenues.
- [9]
Pump.fun paid out over $31M in creator fees and cashbacks to incentivize its user base, while retaining a significant part of its revenues.
- [10]
SOL rose to $111.47, adding 47.9% to its price over the past three months.
- [11]
Daily active addresses on Solana gradually doubled over the past quarter, reaching over 50M in October.
- [12]
Pump.fun daily token launches are regularly above 35,000 new assets, with nearly 20,000 creator addresses daily.
- [13]
Pump.fun spent months affected by meme fatigue, when traders slowed their activity.
- [14]
If the 91% and 5% shares share one base, they total 96%, leaving 4% for all other venues.
- [15]
Daily launches of 35,000 across nearly 20,000 creator addresses is at least 1.75 launches per address per day.
- [16]
SOL at $111.47 after a 47.9% three-month gain implies a price of about $75 three months earlier.
- [17]
Solana's Q3 app revenue of $362M against $253M in Q2 is a rise of about 43%.
- [18]
Pump.fun's $91.48M of Q3 earnings is about 25% of Solana's $362M of Q3 app revenue, if both are measured on the same basis.
- [19]
Pump.fun's payouts of over $31M are about a third of its $91.48M of Q3 earnings.
- [20]
Solana apps carry over $3M in daily revenues, more than double the level of Hyperliquid and far ahead of Ethereum.
ReportedContestedSource: Cryptopolitan2 sources— create a free account to open themView cited source - [21]
Solana's performance shows there is still a risk appetite for spot trading on assets that are not yet exposed to perpetual futures markets.
Sources
1 independent publisher whose own reporting we read for this story.
- cryptopolitan.comSolana retains meme token lead as spot DEX trading concentrates on network
1 article · October 12, 2026
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