Protocol Revenue

THORChain

2026-09-27 04:55:42

THORChain posts highest daily revenue in nearly five months

THORChain generated about $381,700 in revenue on Sept. 25, marking its highest daily figure since April 25, according to data cited by Blockworks. On the same day, swap volume reached $211 million, the second-highest level since April 23. That total trailed only the roughly $280 million recorded on Sept. 10. The figures point to a sharp pickup in protocol activity over the period measured by the data provider. BlockBeats reported the update on Sept. 27, citing Blockworks.

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Pump.fun

2026-09-26 15:10:04

Pump.fun tops Hyperliquid in 24-hour protocol revenue, DefiLlama data shows

Pump.fun generated $1.96 million in protocol revenue over the past 24 hours, edging past Hyperliquid’s $1.86 million, according to data cited by BlockBeats from DefiLlama on Sept. 26. The figures place Pump.fun behind only Tether and Circle in the same revenue ranking. Tether led the list with $17.55 million in 24-hour revenue, while Circle posted $7.35 million. The update was published as a brief market data item and did not include additional commentary beyond the revenue figures and ranking.

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crypto market

2026-09-22 03:51:07

Crypto Protocols Are Making Money, but Many Tokens Still Fall as 2026 Revenue Rankings Expose Valuation Gaps

CoinGecko’s 2026 revenue ranking shows that crypto issuers outside stablecoins generated $3.4 billion in revenue over the first eight and a half months of the year, with the top 15 accounting for 56% of the total. The headline figures are striking, but the token market tells a different story. Hyperliquid and Pump.fun led the list with $429 million and $322 million in revenue, while trading terminals Axiom Pro and GMGN also ranked near the top, highlighting how user traffic and trading interfaces are capturing a growing share of fees. At the same time, several high-revenue names either have no token tied to that cash flow or generate income through structures that do not accrue to token holders. The divergence is also visible in market performance: HYPE rose about 218% and PUMP gained about 83.6% year to date, while Sky was up just 0.8%, Aave fell 17.8%, and WLFI dropped more than 61%. The article argues that revenue alone is a weak shortcut for valuation unless investors also examine how that revenue is earned, where it flows, whether token holders share in it, and how dilution from high fully diluted valuations and token unlocks affects the market.

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Arc chain

2026-09-21 02:18:16

Multiple Meme Launchpads on Arc posted less than $200 in revenue over the past 24 hours

Data from DefiLlama shows weak protocol revenue across several Meme Launchpads on the Arc chain over the past 24 hours. Among the projects mentioned, Solon recorded $503 in revenue, making it the only named platform above the $200 mark. ARK Launch and Tolly reported $180 and $171, while Wonk Fun and AKA brought in $69.6 and $66.87, respectively. UBI.fun, Sashimi.fun, and CircleWarp each generated less than $1 during the same period. The report also noted that several other Launchpads on Arc had not generated any revenue yet. The figures were cited by Odaily in a brief market update based on DefiLlama data.

430

StonkFun

2026-09-20 11:41:51

StonkFun posts $4.85 million in 7-day revenue, ranks No. 10 among protocols

StonkFun, a token issuance platform on Solana, recorded $4.85 million in protocol revenue over the past seven days, according to DeFiLlama data cited by BlockBeats on Sept. 20. That figure was higher than the $4.39 million posted by Pons, described in the report as a Robinhood chain stock-themed meme coin issuance platform. Based on that comparison, StonkFun moved ahead of Pons and now sits at No. 10 on the protocol revenue ranking. The update centers on seven-day protocol revenue and does not include additional performance metrics beyond the figures published in the source report.

300

Robinhood Cha

2026-09-19 12:09:07

Robinhood Chain daily fee revenue falls 97% from early-September peak

Robinhood Chain’s fee revenue dropped sharply from an early-September daily peak of about $8 million to roughly $230,000 on Sept. 16, a decline of 97%, according to BlockBeats. Over the same stretch, transaction count fell from 13.1 million to 8.9 million, down 32%, showing that fee compression far outpaced the decline in on-chain activity. Average fee per transaction slid from about $0.64 to just $0.026. The gap also appeared in seven-day averages. Fees were down 82%, while transaction count slipped only 6%. The figures suggest that network fee income weakened much faster than usage. Even so, activity across the broader Robinhood ecosystem did not retreat at the same pace. For the week ended Sept. 16, DEX volume on Robinhood-related venues was about $13 billion, up 5% from the prior week, while stablecoin supply edged down 1% to around $1 billion. Application-layer revenue remained well above revenue captured by the network itself. In the past 24 hours, apps on the chain collected about $8 million in fees and retained $1.5 million in revenue. Token issuance platform Pons posted about $616 million in weekly volume, down 37% week over week, while protocol revenue fell from $10.7 million to $5.8 million.

270

Uniswap

2026-09-18 11:43:00

Why Uniswap protocol revenue is rising faster than fees

Uniswap’s fee growth has been strong over the past 30 days, but protocol revenue has climbed even faster. According to the source article by Lanhu Bij i, fees rose 129% while protocol revenue jumped 165%, pointing to a higher rate of value capture by the protocol itself rather than a simple increase in trading activity alone. The article says the gap comes from the protocol fee switch that was turned on late last year. More pools across more chains and more versions of Uniswap are now sending a portion of trading fees to the protocol, and a larger share of new trading volume is landing in those fee-enabled pools. Robinhood Chain is highlighted as a major contributor. The piece also explains how that revenue feeds into UNI burn mechanics. Fees are accumulated in TokenJar, users swap UNI for those accumulated assets, and the UNI used in those swaps is permanently burned. The article adds that Uniswap has already settled $2.6 billion in tokenized stock trading volume on Robinhood Chain and has captured nearly all such trading on that chain.

420

NEAR

2026-09-18 05:33:00

NEAR Jumps More Than 45% in Three Days as $3.33 Incentive and Private Trading Narrative Gain Traction

NEAR climbed to as high as $3.45 on Sept. 18, up more than 26% in 24 hours and over 45% from $2.34 three days earlier. Much of the move was tied to the “NEAR@3.33” incentive campaign, which required users to hold more than $100 in a confidential account on NEAR Intents and complete at least one confidential swap. Qualified users were eligible for 333,333 milestone tokens worth about $1.11 million at $3.33, but the tokens could only convert 1:1 into transferable NEAR if the token’s three-day volume-weighted average price reached or exceeded $3.33. The structure linked product use directly to price conditions while separating reward claims from immediate selling. The article argues that the campaign alone cannot explain the scale of the rally. CoinGecko data cited in the report showed NEAR’s market capitalization rising from about $3.22 billion on Sept. 15 to about $4.46 billion, an increase of more than $1.2 billion, making the incentive value only about 0.09% of that gain. Attention then shifted to NEAR Intents’ business metrics, including roughly $5.01 million in gross fees and about $1.58 million in net revenue over the past 30 days, as well as a buyback multisig address holding around 1.158 million NEAR. A whale trade swapping 2,500 ETH for 6,601.37 ZEC through NEAR Intents and the addition of Hyperliquid-powered perpetuals to confidential accounts added to the view that NEAR is being repriced around private cross-chain settlement rather than its older sharded-layer-1 identity.

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