Onchain app revenue climbed to its highest monthly level of 2026 in September as activity strengthened across major blockchain ecosystems.
Solana led the market as trading applications, memecoins, and token launchpads attracted increased user spending. Robinhood Chain also recorded sharp growth, putting it ahead of several established networks during the month.
The figures highlight growing demand for blockchain applications that generate revenue directly from user activity.
Data from DefiLlama showed applications across 356 tracked chains generated $467.66 million in September. That represented an increase of about 27% from August.
September also marked the strongest month for on-chain app revenue since October 2025.
Solana applications generated $144.25 million, accounting for roughly 31% of total revenue. Robinhood Chain followed with $84.39 million after recording its strongest monthly performance.
Hyperliquid ranked third with $60.56 million, while Ethereum generated $55.43 million. Binance Smart Chain completed the top five with $38.71 million.
Solana revenue reaches eight-month high as Memecoin activity returns
DefiLlama calculates app revenue by measuring fees applications retain after distributing payments to other participants. Users typically pay fees when swapping tokens or opening leveraged positions through decentralized platforms.
Applications can distribute portions of those fees to liquidity providers, lenders or token creators. The amount retained by the application counts toward app revenue.
However, DefiLlama excludes revenue from stablecoin issuers and liquid staking protocols. The metric also excludes blockchain gas fees paid directly to networks and validators.
That approach provides another way to measure demand for onchain products. Revenue reflects how much users actually spend while interacting with applications.
By comparison, total value locked measures deposited capital rather than direct user spending. Wallet numbers can also include accounts that generate little economic activity.
Solana recorded $144.25 million in September revenue, its strongest result since January. However, the latest figure remained well below the network’s January 2025 peak.
Solana applications generated around $650 million that month during intense memecoin trading activity.
Memecoin trading and token launchpads again supported Solana’s September performance. StonkFun, which launched in late July, became a key contributor to that activity.
The platform allows token creators to pair launches with tokenized stocks, pre-IPO tokens or other cryptocurrencies instead of SOL.
StonkFun shifted its token launches to Raydium’s LaunchLab bonding curves in early September. The change routed additional launch activity through one of Solana’s largest decentralized trading venues.
Robinhood chain revenue jumps while Hyperliquid tops Ethereum
Robinhood Chain posted one of September’s strongest increases among tracked networks. Applications generated $84.39 million during the month, nearly three times August’s level.
The network had generated roughly $30 million during both July and August. September’s increase pushed Robinhood Chain into second place behind Solana.
It also moved ahead of Hyperliquid and Ethereum in monthly app revenue.
Hyperliquid generated $60.56 million, with perpetual futures trading providing most of its application revenue. The network finished slightly ahead of Ethereum during September.
Ethereum recorded $55.43 million despite remaining the largest blockchain by total value locked.
The gap shows how app revenue and locked capital can measure different parts of blockchain activity. Ethereum continues to hold more deposited value, while other networks generated higher application spending during September.
Binance Smart Chain generated $38.71 million and secured fifth place among the leading networks.
Overall, September’s $467.66 million total marked the strongest on-chain app revenue performance of 2026. Solana’s 31% share placed the network firmly at the center of the monthly increase.
