Solana Trading App Balances Hit 1-Year High

Highlights

Combined user balances across Solana's on-chain trading platforms have exceeded $175 million, the highest since September 2025.
Social trading app Fomo alone holds close to $100 million, more than every other Solana trading platform combined.
Fomo posted $1.76 million in daily revenue on September 6, edging out longtime leader Pump.fun's $1.1 million for the day.
Over the past 30 days, Pump.fun still leads on cumulative revenue, $57 million to Fomo's $17.6 million.

Balances Hit a One-Year High

Combined user balances sitting on Solana's on-chain trading platforms have climbed past $175 million, the highest level since September 2025, according to data from SolanaFloor. Social trading app Fomo accounts for nearly $100 million of that total on its own — more than every other trading platform on Solana combined — cementing its rise from a newer entrant into the network's dominant retail on-ramp for token trading. The balance data lands the same week Fomo edged out longtime Solana leader Pump.fun in daily revenue for the first time, according to Cointelegraph, taking in $1.76 million on September 6 versus Pump.fun's $1.1 million.

Fomo's Rapid Rise, and Pump.fun's Lead

Fomo's rise has been rapid by any standard: the platform closed a $75 million Series B round in June at a $550 million valuation, then layered in features clearly aimed at pulling volume away from incumbents, including perpetual futures contracts launched the same month. Cointelegraph reported that Fomo has distributed more than $2 million in referral fees to users and that over 68,000 people made their first-ever crypto purchase on the platform using Apple Pay, representing roughly $25 million in transaction volume — a distribution channel that gives Fomo access to mainstream users who might never touch a traditional crypto exchange. That onboarding model differs sharply from Pump.fun's crypto-native user base, which arrived already comfortable moving funds through wallets and exchanges rather than a familiar mobile-payment button. Despite the daily-revenue win, Pump.fun still leads decisively on a trailing basis: its 30-day revenue of $57 million dwarfs Fomo's $17.6 million over the same period, a reminder that a single strong day doesn't yet erase Pump.fun's much longer operating history. Pump.fun itself continues posting strong absolute numbers, with its own weekly fees recently topping $10 million for the first time.

Why the Trading-App Layer Matters for Solana

The balance data matters beyond bragging rights between two apps because it signals where fresh retail capital on Solana is actually choosing to sit. A platform holding a large share of user balances captures more of the trading activity, referral flow and token-launch volume that generates fees. For Solana specifically, having a healthy, competitive trading-app layer reinforces the network's position as the default venue for retail-driven token speculation, a role reinforced elsewhere by moves like Circle minting $1 billion in USDC on Solana rails within 24 hours. Apple Pay-based onboarding is a particularly notable wedge: it removes the friction of funding a crypto wallet through an exchange first, historically one of the biggest drop-off points for new crypto users. If Fomo's mainstream-onboarding approach keeps working, it could meaningfully expand the pool of active traders on Solana rather than simply redistributing existing volume away from Pump.fun, a bullish signal for the network's transaction counts and fee revenue heading into the rest of 2026. A larger, more diverse base of trading platforms also gives Solana more resilience against any single app's slowdown, spreading the network's fee generation and liquidity across competing terminals rather than concentrating it in one dominant incumbent the way Pump.fun did for much of the past two years.

What to Watch

The next signal to watch is whether Fomo's September 6 revenue win over Pump.fun was a one-off or the start of a sustained shift — a question that will be answered by whether its 30-day revenue trend starts closing the current $57 million to $17.6 million gap. Analysts tracking Solana's trading-app landscape will also watch whether user balances keep climbing past the current one-year high, or whether the gains prove tied to a temporary bout of speculative activity that fades once the next major token launch cycle cools.

FAQ

What is Fomo?
Fomo is a social trading app on Solana that combines token trading with social features letting users follow other traders' activity; it closed a $75 million Series B in June.

How does Fomo compare to Pump.fun?
Fomo briefly beat Pump.fun in daily revenue on September 6 ($1.76 million versus $1.1 million), though Pump.fun still leads on 30-day revenue, $57 million to $17.6 million.

What does the $175 million balance figure measure?
It's the combined user balances held across all of Solana's on-chain trading platforms, the highest level since September 2025, according to SolanaFloor.

How are new users getting onto Fomo?
More than 68,000 users made their first crypto purchase on Fomo using Apple Pay, according to Cointelegraph, representing about $25 million in transaction volume.