Funkyonchain

🏆 Global Rank #12 (Rick Ranking) 📊 On-Chain Trench Analyst | Finding gold in data. 🚫 100% Organic | No Ads | Global Insights

[Funkyonchain @funky_onchain_]

🏆 2025 Rick Global Clan Ranking: 12th Place
​
​Hello everyone. The 2025 Rick Global Clan Rankings have been officially released.
I am proud to announce that our channel has ranked 12th globally among all Telegram and Discord groups using Rick.
​This achievement is more than just a number; it is a testament to the fact that our vision and direction have been correct all along. In a market filled with noise, we stayed the course, focusing on uncovering "Genuine Alpha" and real value. This global ranking validates that our strategic approach is world-class.
​This success does not belong to me alone. It belongs to every one of you who believed in our direction and contributed high-level insights. Your expertise and dedication are what truly define the strength of this community.
​While we remain humble, I want you all to take immense pride in the path we are walking together. We will not be swayed by temporary fluctuations but will continue to lead as a dominant community that captures opportunities ahead of the curve.
​Thank you for being the "Alpha" of this journey throughout the past year.

@RickBurpBot

[Funkyonchain @funky_onchain_]

Sources: Robinhood Stock Token docs; RHJ disclosure; Adam Aron.
#AMC #Tokenization #Robinhood
Not financial advice.

[Funkyonchain @funky_onchain_]

1/ AMC’s CEO is demanding Robinhood stop trading AMC Stock Tokens. Robinhood’s own docs reveal the twist: the token is 1:1 backed by AMC shares, but the holder is not an AMC shareholder. Price exposure and ownership have split. 🧵

[Funkyonchain @funky_onchain_]

8/ Next signal: not token volume. Watch whether AMC’s counsel, regulators or courts challenge the wrapper—and whether Robinhood keeps AMC tokens live.

[Funkyonchain @funky_onchain_]

Solana Has Diversified — but Its Fee Engine Still Runs on Memecoins

Solana is no longer just a “memecoin chain.”

The network now supports roughly $16.6B in stablecoins, alongside a growing ecosystem of payments, lending, real-world assets, DePIN, and consumer applications.

Solana’s DePIN apps generated approximately $9.1M in revenue during Q1 2026, up 28% quarter over quarter.

In Q2, applications built on Solana generated around $257M in revenue, representing approximately 41% of total Web3 application revenue.

That marked Solana’s ninth consecutive quarter as the leading blockchain by app revenue.

From the outside, the ecosystem has clearly diversified.

But when we look at where fees are actually being generated, a different picture emerges.

━━━━━━━━━━━━

Solana did not grow on memecoins alone.

Its DEX volume declined quarter over quarter in Q1 2026, yet the network maintained a leading share of onchain spot trading.

SOL and stablecoin markets expanded. Professional market makers built more sophisticated liquidity infrastructure. Lending, payments, and other financial applications continued to mature.

Solana’s trading foundation is now much broader than speculative token launches.

The important question is no longer whether non-memecoin activity exists.

It is which activity generates the most fees.

━━━━━━━━━━━━

According to Galaxy Research, five of Solana’s ten highest fee-generating applications in Q1 2026 were directly connected to memecoin activity.

https://t.co/g43QpF7Aql’s share of total Solana application fees increased from 22% to 32% in a single quarter.

Meanwhile, non-speculative sectors such as lending and payments remained much smaller contributors to the network’s application fee economy.

More industries are being built on Solana.

But the product that converts user attention into revenue most efficiently is still the memecoin.

The ecosystem has expanded.

The cash register, however, is still dominated by speculation.

━━━━━━━━━━━━

Why do memecoins generate so much more economic activity?

Memecoin trading is not inherently bad for Solana.

In fact, the network’s dominance in speculative markets demonstrates real competitive advantages: fast execution, low transaction costs, deep liquidity, and infrastructure capable of serving large numbers of retail traders.

Memecoins bring new users.

They generate trading volume and fees.

They accelerate the adoption of wallets, trading terminals, aggregators, and liquidity infrastructure.

The issue is not their existence.

The issue is dependence.

Payments and tokenized real-world assets can bring significant capital onto Solana, but that capital may remain relatively passive.

Memecoin capital moves differently.

The same funds can rotate repeatedly through token creation, early buying, profit-taking, re-entry, wallet transfers, and DEX trades.

Every rotation can generate:

• Launchpad fees
• DEX trading fees
• Wallet and trading-interface fees
• Priority fees
• Market-making and MEV revenue
Payments and RWAs expand Solana’s asset base.
Memecoins increase the velocity of that capital and turn it into fees.
This is why ecosystem diversification does not automatically mean revenue diversification.
Solana’s balance sheet is becoming broader.

Its income statement remains highly sensitive to speculative activity.

━━━━━━━━━━━━

There is another important distinction:

Revenue generated on Solana does not necessarily accrue to SOL holders.

User spending is distributed across multiple layers of the ecosystem:

• Applications such as https://t.co/g43QpF7Aql and Jupiter
• Wallets and trading interfaces
• Market makers and liquidity providers
• Validators and SOL stakers
• Infrastructure operators

Rising activity on Solana should therefore not be translated automatically into proportional value capture for SOL.

Volume is not value capture.

The relevant question is not simply how much activity occurs on the network.

It is where the resulting revenue ultimately stays.
“More Solana usage” and “more value for SOL holders” are not the same statement.
━━━━━━━━━━━━
Four signals will show whether Solana has truly moved beyond the memecoin cycle:
Memecoin-related applications lose fee share while total app revenue remains strong.

Payments, lending, RWA, and DePIN applications begin generating meaningful recurring fees.

Active users and application revenue remain resilient after memecoin activity declines.

A larger share of ecosystem growth accrues to validators, stakers, and the SOL asset itself.

If these conditions emerge, Solana will have built an economy that can sustain itself beyond speculative cycles.

For now, the conclusion is more nuanced.

Solana is no longer a blockchain where only memecoins matter.

But memecoins remain the engine that converts attention into volume and fees faster than anything else in the ecosystem.

Solana’s diversification will not be proven by the number of applications it hosts.

It will be proven by whether users and revenue remain after the memecoin engine slows down.

Sources: DefiLlama, Galaxy Research, Solana Compass, Messari

#Solana #SOL #PumpFun #Memecoins #DeFi #DePIN #Onchain #MarketStructure

For informational purposes only. Not financial advice.

[Funkyonchain @funky_onchain_]

Sources: DefiLlama Research and Hyperliquid documentation.

For information only. Not financial advice.

#Hyperliquid #HYPE #HIP3 #RWA #Perpetuals #MarketStructure

[Funkyonchain @funky_onchain_]

1/ RWA brought ~169K new wallets to Hyperliquid in H1 2026.

They generated $111.6B in volume — 31.5% of all new-user volume.

But they contributed only 8.3% of measured fees.

User growth and value capture are not the same thing. 🧵

[Funkyonchain @funky_onchain_]

12/ Note: 169K refers to wallets, not unique people. One person may control several wallets, while automated or market-making wallets may also be included.