According to online reports, Messari's "Solana Status Report for the First Quarter of 2025" shows that in the first quarter of this year, Solana's blockchain recorded its strongest performance in 12 months. Solana's total revenue increased by approximately 20%, rising to US$1.2 billion. January was particularly eye-catching, accounting for nearly 60% of total revenue for the quarter. The popular memecoin publishing platform Pump.fun ranked first among all apps with revenue of $257 million, followed by Phantom with revenue of $164 million. Photon, ranked third, had revenue of $122 million (up 13%); Bullx, ranked fourth, had revenue of $87 million (up 19%). Jupiter, ranked fifth, had revenue of $80 million (a 79% increase). At the same time, reported data showed that the total lock-in value (TVL) of DeFi on Solana (in dollar terms) fell 64% to $6.6 billion. At the same time, the market value of stablecoins on Solana increased significantly by 145% to US$12.5 billion, mainly due to Trump's release of memecoin on January 17. The market value of USDC stablecoins increased by 148% month-on-month to US$9.7 billion. Its market value is four times that of its main competitor USDT, which grew 154% to $2.3 billion. During this period, average transaction fees fell 24% month-on-month to 0.000189 SOL ($0.04), while median transaction fees fell 7% to 0.00008 SOL ($0.0015).