Top crypto protocols generate $1.2B in revenue after recording 9.3% monthly growth

The 10 highest-grossing crypto protocols generated $1.2 billion in revenue during the 30 days ending Aug. 28, representing a 9.3% increase from the previous month’s total of $1.1 billion per DefiLlama data.

Ethena led the percentage gains with a 243% revenue surge, jumping from $9.46 million to $32.48 million, as its synthetic dollar USDe captured market share from traditional stablecoins.

The protocol’s revenue expansion of $23 million represented the second-largest absolute increase among tracked applications.

Pump.fun posted the second-highest percentage growth at 79%, with revenue climbing from $22.55 million to $40.39 million.

The Solana-based memecoin launchpad benefited from continued speculation in newly created tokens, generating an additional $17.84 million in monthly fees.

Stablecoin dominance continues

Tether maintained market leadership despite modest 2.9% growth, with revenue rising from $614.79 million to $632.91 million....

4.9K

The content on this page is provided by third parties. Unless otherwise stated, OKX is not the author of the cited article(s) and does not claim any copyright in the materials. The content is provided for informational purposes only and does not represent the views of OKX. It is not intended to be an endorsement of any kind and should not be considered investment advice or a solicitation to buy or sell digital assets. To the extent generative AI is utilized to provide summaries or other information, such AI generated content may be inaccurate or inconsistent. Please read the linked article for more details and information. OKX is not responsible for content hosted on third party sites. Digital asset holdings, including stablecoins and NFTs, involve a high degree of risk and can fluctuate greatly. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition.