Pump.fun accounts for over one-third of Solana’s Q1 revenue despite memecoin slowdown

Pump.fun pulled in $124.7 million in Q1 2026, making it Solana’s largest revenue generator even as memecoin activity cooled, while the network’s RWA market cap crossed $2 billion.

Pump.fun remained Solana’s largest revenue generator in the first quarter of 2026, pulling in $124.7 million, more than a third of the network’s $342.2 million in total app revenue, despite cooling memecoin activity.

The memecoin launchpad's revenue rose 17% quarter over quarter, a sign that its core business remains resilient, Messari said in its Solana Q1 report.

Launchpads generated $144 million in Q1, roughly 42% of Solana’s total app revenue. A standout within the sector was Bags, whose quarterly revenue surged 1,347% to $11.5 million, fueled by a wave of AI-themed memecoins in January. The surge proved short-lived, with monthly revenue dropping 85% by February.

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