Solana DeFi Applications Witness Surge in Revenue As Memecoins Explode

Solana-based decentralized finance (DeFi) applications recorded a surge in fees and revenue in the last 24 hours, driven by renewed memecoin mania. According to a Nov. 18 post on X by DeFi commentator Patrick Scott, citing data from DefiLlama, five of the top ten protocols by fees were hosted on Solana during this period. Raydium, a Solana-based automated market maker, reached a record $11.3 million in fees on Nov. 17. Similarly, liquid staking protocol Jito recorded its third-highest daily fees at $9.87 million, while the memecoin launchpad pump.fun generated $1.65 million, marking its seventh-highest day of earnings. Photon, a Telegram