October 13th 2026, 1:52 PM
Fomo Revenue Plummets 59% Amid Crypto Market Pullback
Key Summary
Fomo, a self-custodial social trading app on Solana, reported a 59% decline in weekly revenue to $3.96 million, marking the fifth consecutive week of falling revenue. The slowdown is attributed to cooling on-chain activity during a broader crypto market pullback. Despite the decline, Fomo remains in the same conversation as leading Solana protocols, with 30-day revenue ranging from $22 million to $32 million.
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Introduction
Fomo, a 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.Market Context
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.Business Model
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.Key Statistics
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.Implications
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.Conclusion
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.#Solana#CryptoMarket#Fomo#TradingApp