Solana Captures 41%+ of Web3 dApp Revenue as RWA Value Hits $1.71B
Solana’s ecosystem has grown to control a dominant share of Web3 decentralized application (dApp) revenue, capturing over 41% of total dApp earnings according to a report cited by SOL Strategies using Syndica data. The network’s revenue growth spans consumer-facing apps and DeFi, signaling increased economic activity despite SOL’s weak price action. Separately, Solana’s Real World Asset (RWA) ecosystem reached a new on‑chain high above $1.71 billion in total value — a >45% rise in 30 days — suggesting rising institutional tokenization and capital flows. Infrastructure developments targeting APAC institutions, including HSDT’s Pacific Backbone linking Seoul, Tokyo, Singapore and Hong Kong, aim to provide low-latency, high-throughput settlement for DeFi, liquid staking and TradFi-style execution. Analysts suggest these moves could position SOL as a preferred settlement layer for regional capital markets and act as a potential catalyst for renewed price momentum if institutional adoption increases.
Bullish
The news is bullish because it shows expanding on-chain economic activity and rising institutional interest — two fundamentals that can support long-term valuation even when short-term price action is weak. Key signals: Solana controls over 41% of Web3 dApp revenue, and RWA on-chain value surged to $1.71B (+45% in 30 days). These metrics indicate growing utility, developer traction, and capital flows. Infrastructure upgrades aimed at APAC institutions (Pacific Backbone) reinforce the narrative that Solana could become a high-throughput settlement layer for regional capital markets, potentially unlocking new liquidity and institutional volumes. Historically, increases in on-chain TVL, tokenization, and institutional infrastructure have presaged sustained demand (e.g., Ethereum’s growth phases tied to DeFi and NFT booms). Short-term effects: price may remain volatile as traders digest fundamentals amid macro conditions; positive data could trigger speculative runs and increased DEX/cex flows. Long-term effects: stronger network effects, higher fees/revenue capture, and institutional adoption could underpin a multi-phase bullish trend for SOL, assuming no major protocol failures or regulatory setbacks.