If you've been keeping an eye on the crypto space, you might have noticed a shift in where the real money is being made on-chain. A recent tweet from DeFi_Made_Here highlights an intriguing trend: when you set aside stablecoin issuers and layer-1 (L1) blockchains themselves, Solana is absolutely crushing it in terms of revenue generation.

The tweet shares a snapshot of the top revenue earners over the last 24 hours, and it's eye-opening. Stablecoins like Tether (USDT) and Circle (USDC) top the list with massive yields from their backing assets, mostly U.S. Treasury Bills. But once you exclude those and the L1s like Tron, the picture changes dramatically—Solana-based protocols dominate the rankings.

Let's break it down. Hyperliquid, a decentralized exchange (DEX) on its own chain but often associated with high-performance trading, pulls in $2.88 million. A whopping 99% of its fees go toward buying back its HYPE tokens, which is a clever way to reward users and stabilize the ecosystem.

Then there's Pump.fun on Solana, a launchpad that's become synonymous with meme token creation. It raked in $2.32 million from trading and launching tokens paid by users. The protocol keeps just 0.05% as revenue, but with the volume of meme launches on Solana, that adds up fast. If you're into meme tokens, Pump.fun is ground zero—it's where countless viral projects get their start, making it a key player in the meme economy.

Collector Crypt, another Solana gem, is an NFT marketplace bringing in $1.62 million from gacha sales, marketplace fees, and royalties. Solana's low fees and speed make it ideal for NFT trading, especially for meme-inspired collections that pop up overnight.

Axiom Pro, a trading app spanning two chains but highlighted under Solana, earns $1.62 million too. Users get a chunk of the fees, so the actual protocol revenue is lower than total fees collected via builder codes.

Jupiter on Solana, focused on derivatives, generates $783,311. About 25% of fees go to the protocol treasury and JLP holders, with all fees redistributed in some form.

Phantom Wallet, supporting five chains but earning big on Solana, collects $732,155, including builder code fees from Hyperliquid perps.

What's clear from this data is Solana's edge in fostering high-activity dApps, especially those tied to trading, launches, and NFTs—areas where meme tokens thrive. Meme tokens aren't just jokes anymore; they're driving real economic activity. Platforms like Pump.fun lower the barrier to entry, allowing anyone to launch a token quickly and cheaply, which fuels speculation and community building.

This revenue dominance underscores Solana's strengths: blazing-fast transactions and minimal costs compared to Ethereum or other L1s. It's no wonder developers and users are flocking there for meme-related projects. If you're a blockchain practitioner looking to dive into memes, keeping tabs on Solana's ecosystem could give you a serious edge.

Of course, revenue figures can fluctuate, but this snapshot from September 13, 2025, shows Solana's momentum. For more insights on meme tokens and blockchain trends, stick around Meme Insider—we're here to help you navigate the wild world of crypto.