FOMO App's Solana Users Struggle as Just 10% Profit After Fees
A new analysis reveals that only a small fraction of FOMO app users on Solana managed to turn a profit after accounting for transaction fees.
A new analysis reveals that only a small fraction of FOMO app users on Solana managed to turn a profit after accounting for transaction fees. Solana (SOL) is trading at $101.64, up 1.0% since this brief published. This is an original TLT brief based on reporting by CryptoSlate, with live market data added, as of Thu, 29 Oct 2026 15:00:05 UTC.
This highlights the significant impact of transaction fees on retail trading profitability in the Solana ecosystem, potentially deterring user engagement and adoption.
- Only 10% of FOMO app's Solana wallets were profitable after fees from Jan-Oct 2026.
- Transaction fees eroded gains while token trades caused most losses.
- Solana's current price is $100.61, down 0.39% in the last 24 hours.
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- FOMO App's Solana Users Struggle as Just 10% Profit After Fees — this brief
A recent analysis of the FOMO app's user data on the 
Solana blockchain has revealed that only 10% of wallets were profitable after factoring in transaction fees from January to October 2026.
According to Bitquery's data, as reported by CryptoSlate, the majority of users experienced small gains from their token trades. However, these gains were effectively erased out by the transaction fees associated with each trade.
The study further indicates that token trades were the main source of losses, suggesting that the high frequency of trading, coupled with the fees, significantly impacted the overall profitability of users.
This development comes as the broader crypto market remains relatively flat, with 
Bitcoin showing a slight 24-hour decline of 0.51%. Solana, the blockchain on which the FOMO app operates, is currently priced at $100.61, down 0.39% in the last 24 hours and 3.60% over the past week.
The findings underscore the importance of considering transaction costs in trading strategies, particularly for retail investors. As the data suggests, even minor fees can have a substantial impact on profitability, potentially influencing user behavior and platform adoption.
Since this brief published about 60 minutes ago, Solana (SOL) has moved from $100.61 to $101.64 — +1.02%.
The chart plots SOL's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution; intraday detail builds over the first day). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 SOL ≈ ₦140,577.78 (about $101.64), up 0.9% over 24 hours. The naira itself trades about 2.7% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 29, 2026.
TLT reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
FOMO App's Solana Users Struggle as Just 10% Profit Afte — questions & answers
What percentage of FOMO app users profited after fees?
Only 10% of FOMO app's Solana wallets were profitable after accounting for transaction fees.
What caused most of the losses for users?
Token trades were the primary source of losses, according to the analysis.
How has Solana's price performed recently?
Solana is down 0.39% in the last 24 hours and 3.60% over the past week.
How much is 1 Solana worth in naira today?
About ₦140,577.78 at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $101.64. The naira price moves with both SOL's US-dollar price and the USDT/NGN rate; use our Solana in naira page for any amount.
Has Solana's price moved since this brief was published?
SOL is up 1.02% since this brief first published — trading at $101.64 now versus $100.61 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from CryptoSlate. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.