dApp Economic Activity Hits a New High in 2026

dApp fees reached $1.44B in September, the best month of the year, beating January's $1.14B. Q3 as a whole came in at $3.33B, up 38.8% from Q2.

The shape of the year matters here. Activity fell steadily from January through April, bottoming at $776M, then went flat through the summer. In Q3 it turned sharply: July $855M, August $1.03B, September $1.44B. September alone made up 43% of the quarter's fees.

Bitcoin had its second-best Q3 on record (+43.5%), Hyperliquid broke new highs, and Pons and Pump Fun printed record launchpad months.

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