Solana closed June at $155, down 1.2% month-over-month amidst a broader slump in altcoins. Despite this underperformance compared to Bitcoin, Solana achieved significant metrics, including over 2.1 billion transactions and $150 million in app revenue for June, a 35% increase from May. Notably, the price of SOL surged to $161 due to hype surrounding the REX-Osprey SOL Staking ETF but quickly fell back to around $152. The DEX volume was impacted as trading-focused apps, which accounted for nearly 90% of Solana's application revenue, saw a shift towards a new player, Pump, surpassing Raydium's market share. Validator income and net income metrics also exhibited significant declines, suggesting ongoing challenges for the Solana ecosystem despite the record transaction volume and revenue generated per unit of real economic value. Future developments may see changes in the application revenue dynamics in light of upcoming events and ICOs.

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