Fomo, the self-custodial social trading app built on Solana, has posted five consecutive weeks of falling revenue. Weekly protocol revenue now sits at $3.96 million, down 59% from a peak of $9.59 million.
That is a steep slide for an app that spent the summer setting records. It is also, for perspective, still a bigger number than Fomo was putting up two months ago.
From record highs to a five-week slump
The latest figure, as of October 13, 2026, caps a run of weekly declines. The slowdown has been attributed to cooling on-chain activity during a broader pullback across the crypto market.
The climb that preceded the drop was fast. Fomo set a then-record of $1.57 million in weekly revenue for the week ending July 27. It topped that with $2.64 million for the week ending August 8. By early September, the app was pulling in nearly $8 million in a single week, with the peak landing at $9.59 million.
Over the July-to-September stretch, Fomo also outearned Pump.fun, one of the better-known trading platforms in the Solana ecosystem, in daily revenue on some days.
On a 30-day basis, recent revenue figures have ranged from $22 million to $32 million.
A business with no token to lean on
The app charges a fee of approximately 0.5% on each self-custodial swap, and that is essentially where the money comes from. There is no governance token and no emissions program.
Fomo has raised $94 million in total funding, including a $75 million Series B round in June 2026 that valued the company at $550 million.
Fomo’s user base expanded from 625,000 in mid-2026 to 2.7 million, and the platform has reported cumulative trading volume above $4 billion.
What the slowdown means for Fomo and its backers
A 59% decline from the peak sounds dramatic, but Fomo’s weekly revenue is still above where it was two months ago, before the late-summer surge.
With 30-day revenue between $22 million and $32 million, Fomo remains in the same conversation as Solana’s leading protocols, and its earlier stretches of beating Pump.fun on daily revenue show it can win share when conditions are favorable.
Disclosure: This article was edited by John Chen. For more information on how we create and review content, see our Editorial Policy.