⚠️ #REV Monthly Update at the end of Q3 F.Y. 2025 September marks the lowest monthly Real Economic Value run rate achieved on @solana since Sep 2024—back before Trump’s re-election. The dashboard chart shows this cycle’s bottom, with TEV, transaction fees, and ecosystem

For more details, go visit the detailed REV dashboard on link: https://t.co/fNyK7CpdaD For feedback, reach out via DMs or book a call using the calendly link available on our website. 7/n

SOL Burn Check: Dec saw $9.1M in SOL burn, with the cumulative burn now at $772M. Monthly burn remains subdued compared to past peaks, highlighting the gap between recent supply growth and deflationary offsets. Charting these trends helps decode inflation pressure

Block Rewards & Jito: Dec 2025 saw $270M in gross SOL issuance, with $199M paid as staking and $72M in voting rewards. Jito Labs commissions totaled $262k—still a small but share as MEV strategies are scaling. Monitoring these streams helps track validator earnings

SOL Rewards & Burn: Dec 2025 delivered $199M in staking rewards and $72M in voting rewards, but just $9M in SOL burn on the @solana chain. While validator payouts dropped, burn activity stayed modest—suggesting supply expansion still outweighs the offset from burning. 4/n

SOL Issuance Watch: In September, gross SOL issuance reached $270M with net issuance at $261M on the @solana chain. Both metrics are trending downwards, signalling reduced rewards to validators. Watch these highs and lows—for their timing drives supply dynamics and network

TPS Trends: The chart highlights a flatlining real TPS (confirmed, user-initiated transactions) whereas total TPS (all network activity—including vote and maintenance transactions) has dropped sharply on @solana. This shows a dramatic fall in non user transactions - vote and

Review of Real Economic Value (REV) on @solana at the start of F.Y. 2026. Q4 2025 marked the lowest quarterly REV run rate achieved on @solana since Q4 2023. The dashboard chart shows this cycle’s bottom, with TEV, transaction fees, and ecosystem revenue all cooling off

7. For more such insights, do look at our stablecoins dashboard on our Research Tool Dashboard by Top Ledger link: https://t.co/3HAlBb4PBM END OF THREAD

6. Stablecoin burns on @Solana rose sharply post-September 2025, reflecting elevated supply management and inflation control efforts led by USDC and other major issuers.

5. @Solana stablecoin mints surged to new highs since September 2025, led by USDC expansion and diversified growth across multiple stablecoin issuers in Q4.

4. @Solana stablecoin DEX volume rebounded post-January 2025, with USDC swaps dominating growth and driving ongoing DeFi ecosystem activity. The DEX volume is trending lower in Q4 from Q3 pointing out to a drying up of liquidity and sentiments with a lag of a quarter. With

3. Stablecoin transfer volumes on @Solana are exhibiting a clear rebound, with a steady upward trend visible since March 2025. The latest chart highlights strong periodic spikes, especially in USDC-driven activity, and a continued rise in aggregate transfer volumes across leading

2. Stablecoin holders on @Solana are expanding at record pace, diverging from recent supply contraction trends. The network now features an all-time high of 8.44 million unique wallet addresses holding stablecoins, highlighting broadening on-chain user adoption even as total

State of stablecoins on @Solana: 1. Total supply peaked in December 2025 and has stabilised. Markets are calling it the Lagging indicator of the increased M2 money supply. Analysts pointing out that the supply should only increase from here.

.@Amberdataio. @CreatorBid. @TheoriqAI. @Ledger_top are some of the builders who shared stories about their use of The Graph. From AI agents to enterprise analytics to high-throughput @Solana apps, the use cases keep expanding 🗂️

The Metaplex DAO is growing as a hub for decentralized governance, protocol development, and ecosystem expansion. Stay tuned for monthly updates on protocol activity and ecosystem news. Track real-time metrics via @ledger_top 👇 https://t.co/Mzpe9jcBmp

Metaplex November Round-up TLDR: • Protocol revenue reached $1.1M • Genesis powered the @BeamableNetwork sale, contributing 10% of monthly revenue • $1.0M of October's protocol revenue used to buy back 7.6M $MPLX for the DAO (0.8% of total supply / 1.3% of outstanding supply)

The Metaplex DAO is growing as a hub for decentralized governance, protocol development, and ecosystem expansion. Stay tuned for monthly updates on protocol activity and ecosystem news. Track real-time metrics via @ledger_top 👇 https://t.co/Mzpe9jcBmp

The @ledger_top team shall be at Breakpoint in Abu Dhabi this week. catch our CTO @dkdocs, research analysts @Abhishe1188958, @Ashukush333 and @urluckyturtle and myself from the product and growth team from 10th to 13th Dec 2025.