POPA ReconTop 10 Protocols by Revenue for Spring
Top 10 Protocols by Revenue for Spring Stablecoin issuers dominate - Tether and Circle alone made more than the other eight combined. • Tether - $1.49B • Circle - $605M • Hyperliquid - $148M • Pump Fun - $101M • Grayscale - $57M • Polymarket - $55M • Titan Builder - $50M • Sky - $45M • Axiom - $38M • Paxos - $35M Tether's $1.49B is ~2.5x Circle and roughly 10x the #3 Hyperliquid - proof that printing stablecoin yield is still the most profitable business in crypto. Data source 🔗 Defillama Top 7 Ecosystem: Alpha | X | Aggregator
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