1/ In June, @solana's onchain activity declined across various fronts:
- Real Economic Value: $63M, -48% MoM
- App Revenue: $150M, -38% MoM
- DEX Volumes: $90B, -35% MoM
- Stablecoin Supply: $10.8B, -6.5% MoM
Let's dive into the data 👇
2/ Real Economic Value (REV) measures user demand to transact on a blockchain - tracking all value paid for transaction execution.
Solana's REV amounted to $63M in June, commanding 31% of the global demand to transact onchain vs. 28% for Tron and 23% for Ethereum.
3/ App revenue serves as an indicator of success for businesses within an ecosystem.
Solana apps generated $150M in revenue in June, accounting for 35% of total app revenue across all chains.
BSC was second in line (17%), with almost 90% of its revenue coming from Pancake Swap.
4/ In June, Solana apps generated an average of $2.4 in revenue per $1 of network REV, a new all-time high.
The highest revenue-generating apps on Solana in June were Pump ($39M), Axiom ($37M), Phantom ($14M), Photon ($7M) and Raydium ($6M).
6/ Solana's stablecoin supply decreased by 6.5% MoM, closing June at $10.8B.
USDC circulating supply on Solana decreased by about $1B (-12%) in the past month.
Meanwhile, FDUSD added $200M in supply, growing almost 200%, from $104M to $304M.
7/ xStocks went live on June 30, enabling permissionless trading of tokenized US equities on Solana, with initial liquidity coming from Raydium and Byreal.
Users will soon be able to use xStocks as collateral on Kamino, unlocking a previously unexplored use case in Solana DeFi.
8/ To stay updated on Solana's monthly developments, including in-depth discussions about the latest Solana Improvement Documents (SIMDs), onchain financials, DeFi activity, and more, subscribe to @blockworksres and check out the latest note by @0xcarlosg.
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