In May 2025, Solana's blockchain ecosystem demonstrated robust growth and activity across multiple metrics. Decentralized applications (DApps) on Solana generated over $213 million in revenue, with leading contributors including pump.fun ($46 million+), Axiom Exchange ($43 million+), and Phantom Wallet ($20 million+). The overall application revenue on Solana reached $214 million, marking a 22% increase month-over-month. Real Economic Value on the network was $121 million, up 37% from the previous month. Decentralized exchange (DEX) volumes surged by 32% month-over-month to $135 billion. Meanwhile, the stablecoin supply on Solana decreased by 13.5% to $11.4 billion. Additionally, the 1inch platform reported a total trading volume of $34 billion in May, with 25 million swaps executed, including 7.3 million from new users and 18 million from returning users. Maple Finance also recorded a record month, achieving all-time high monthly revenue and surpassing $1 billion in syrupUSD assets under management. The pump.fun project raised $1 billion at a $4 billion valuation without announcing any airdrops, while Solana's native token price experienced a slight decline from $161 to $156. Overall, these data points reflect sustained momentum and increased user engagement within the Solana ecosystem during May 2025.