• bitcoinBitcoin (BTC) $ 83,769.00
  • ethereumEthereum (ETH) $ 1,921.08
  • tetherTether (USDT) $ 1.00
  • xrpXRP (XRP) $ 2.40
  • bnbBNB (BNB) $ 595.43
  • solanaSolana (SOL) $ 133.18
  • usd-coinUSDC (USDC) $ 0.999900
  • cardanoCardano (ADA) $ 0.737680
  • dogecoinDogecoin (DOGE) $ 0.173509
  • tronTRON (TRX) $ 0.220466
  • staked-etherLido Staked Ether (STETH) $ 1,919.70
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 83,600.00
  • pi-networkPi Network (PI) $ 1.47
  • chainlinkChainlink (LINK) $ 13.89
  • leo-tokenLEO Token (LEO) $ 9.55
  • stellarStellar (XLM) $ 0.273251
  • wrapped-stethWrapped stETH (WSTETH) $ 2,290.61
  • usdsUSDS (USDS) $ 0.999648
  • hedera-hashgraphHedera (HBAR) $ 0.192948
  • avalanche-2Avalanche (AVAX) $ 18.50
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • suiSui (SUI) $ 2.34
  • the-open-networkToncoin (TON) $ 2.93
  • litecoinLitecoin (LTC) $ 92.73
  • bitcoin-cashBitcoin Cash (BCH) $ 346.41
  • polkadotPolkadot (DOT) $ 4.31
  • mantra-daoMANTRA (OM) $ 6.49
  • ethena-usdeEthena USDe (USDE) $ 0.999947
  • wethWETH (WETH) $ 1,921.11
  • bitget-tokenBitget Token (BGB) $ 4.40
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • hyperliquidHyperliquid (HYPE) $ 14.47
  • whitebitWhiteBIT Coin (WBT) $ 28.40
  • wrapped-eethWrapped eETH (WEETH) $ 2,040.86
  • moneroMonero (XMR) $ 210.65
  • uniswapUniswap (UNI) $ 6.11
  • susdssUSDS (SUSDS) $ 1.04
  • aptosAptos (APT) $ 5.33
  • daiDai (DAI) $ 0.999768
  • nearNEAR Protocol (NEAR) $ 2.63
  • pepePepe (PEPE) $ 0.000007
  • okbOKB (OKB) $ 45.97
  • internet-computerInternet Computer (ICP) $ 5.69
  • ondo-financeOndo (ONDO) $ 0.866194
  • ethereum-classicEthereum Classic (ETC) $ 17.93
  • gatechain-tokenGate (GT) $ 21.33
  • aaveAave (AAVE) $ 173.56
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 83,780.00
  • mantleMantle (MNT) $ 0.735138
  • official-trumpOfficial Trump (TRUMP) $ 11.89
  • crypto-com-chainCronos (CRO) $ 0.083291
  • tokenize-xchangeTokenize Xchange (TKX) $ 28.06
  • bittensorBittensor (TAO) $ 258.47
  • vechainVeChain (VET) $ 0.025068
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.998436
  • kaspaKaspa (KAS) $ 0.079170
  • celestiaCelestia (TIA) $ 3.68
  • ethenaEthena (ENA) $ 0.370055
  • cosmosCosmos Hub (ATOM) $ 4.41
  • filecoinFilecoin (FIL) $ 2.89
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.215828
  • fasttokenFasttoken (FTN) $ 3.99
  • algorandAlgorand (ALGO) $ 0.200080
  • sonic-3Sonic (prev. FTM) (S) $ 0.526556
  • render-tokenRender (RENDER) $ 3.21
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 83,842.00
  • arbitrumArbitrum (ARB) $ 0.361676
  • story-2Story (IP) $ 5.83
  • arbitrum-bridged-usdt-arbitrumArbitrum Bridged USDT (Arbitrum) (USDT) $ 1.00
  • jupiter-exchange-solanaJupiter (JUP) $ 0.527155
  • optimismOptimism (OP) $ 0.869212
  • kucoin-sharesKuCoin (KCS) $ 11.16
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 0.515387
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 83,691.00
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • binance-peg-wethBinance-Peg WETH (WETH) $ 1,924.44
  • movementMovement (MOVE) $ 0.465829
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 1,993.92
  • nexoNEXO (NEXO) $ 1.07
  • xdce-crowd-saleXDC Network (XDC) $ 0.067880
  • makerMaker (MKR) $ 1,180.94
  • sei-networkSei (SEI) $ 0.204822
  • dexeDeXe (DEXE) $ 17.36
  • blockstackStacks (STX) $ 0.649103
  • injective-protocolInjective (INJ) $ 10.08
  • immutable-xImmutable (IMX) $ 0.555061
  • usual-usdUsual USD (USD0) $ 0.997843
  • worldcoin-wldWorldcoin (WLD) $ 0.870453
  • rocket-pool-ethRocket Pool ETH (RETH) $ 2,155.70
  • binance-staked-solBinance Staked SOL (BNSOL) $ 138.41
  • flare-networksFlare (FLR) $ 0.015489
  • the-graphThe Graph (GRT) $ 0.095930
  • theta-tokenTheta Network (THETA) $ 0.888764
  • lido-daoLido DAO (LDO) $ 0.952205
  • bonkBonk (BONK) $ 0.000011
  • polygon-bridged-usdt-polygonPolygon Bridged USDT (Polygon) (USDT) $ 0.999999
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 82,748.00
  • mantle-staked-etherMantle Staked Ether (METH) $ 2,037.78
  • paypal-usdPayPal USD (PYUSD) $ 0.999736
  • eosEOS (EOS) $ 0.499107
  • tether-goldTether Gold (XAUT) $ 2,995.22
  • tezosTezos (XTZ) $ 0.704556
  • galaGALA (GALA) $ 0.016657
  • wbnbWrapped BNB (WBNB) $ 596.58
  • binance-bridged-usdc-bnb-smart-chainBinance Bridged USDC (BNB Smart Chain) (USDC) $ 1.00
  • the-sandboxThe Sandbox (SAND) $ 0.282863
  • bittorrentBitTorrent (BTT) $ 0.00000069
  • stargate-bridged-usdc-berachainStargate Bridged USDC (Berachain) (USDC.E) $ 0.999785
  • bitcoin-svBitcoin SV (BSV) $ 34.23
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 83,569.00
  • jasmycoinJasmyCoin (JASMY) $ 0.013836
  • iotaIOTA (IOTA) $ 0.182301
  • jito-governance-tokenJito (JTO) $ 2.19
  • berachain-beraBerachain (BERA) $ 6.18
  • kaiaKaia (KAIA) $ 0.110187
  • msolMarinade Staked SOL (MSOL) $ 170.01
  • flowFlow (FLOW) $ 0.407350
  • pax-goldPAX Gold (PAXG) $ 2,997.05
  • usdx-money-usdxStables Labs USDX (USDX) $ 1.00
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 1,996.76
  • flokiFLOKI (FLOKI) $ 0.000062
  • ethereum-name-serviceEthereum Name Service (ENS) $ 17.03
  • neoNEO (NEO) $ 8.01
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 145.62
  • pyth-networkPyth Network (PYTH) $ 0.149848
  • resolv-usrResolv USR (USR) $ 0.999756
  • curve-dao-tokenCurve DAO (CRV) $ 0.411529
  • heliumHelium (HNT) $ 2.94
  • honey-3Honey (HONEY) $ 0.999783
  • beldexBeldex (BDX) $ 0.075868
  • roninRonin (RON) $ 0.840202
  • axie-infinityAxie Infinity (AXS) $ 3.23
  • elrond-erd-2MultiversX (EGLD) $ 18.20
  • pancakeswap-tokenPancakeSwap (CAKE) $ 1.73
  • telcoinTelcoin (TEL) $ 0.005544
  • kavaKava (KAVA) $ 0.468531
  • zcashZcash (ZEC) $ 31.75
  • decentralandDecentraland (MANA) $ 0.270506
  • dogwifcoindogwifhat (WIF) $ 0.497667
  • true-usdTrueUSD (TUSD) $ 0.998779
  • starknetStarknet (STRK) $ 0.177341
  • pumpbtcpumpBTC (PUMPBTC) $ 82,445.00
  • dydx-chaindYdX (DYDX) $ 0.625222
  • raydiumRaydium (RAY) $ 1.64
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 0.720255
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.174133
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 2,038.70
  • bridged-usdc-polygon-pos-bridgeBridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.999924
  • chain-2Onyxcoin (XCN) $ 0.013322
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 1,921.44
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 83,905.00
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.006775
  • apenftAPENFT (NFT) $ 0.00000043
  • aerodrome-financeAerodrome Finance (AERO) $ 0.533376
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 1,921.13
  • ecasheCash (XEC) $ 0.000021
  • clbtcclBTC (CLBTC) $ 84,058.00
  • chilizChiliz (CHZ) $ 0.044407
  • conflux-tokenConflux (CFX) $ 0.083666
  • arweaveArweave (AR) $ 6.40
  • thorchainTHORChain (RUNE) $ 1.18
  • grassGrass (GRASS) $ 1.51
  • apecoinApeCoin (APE) $ 0.513214
  • ousgOUSG (OUSG) $ 110.33
  • coredaoorgCore (CORE) $ 0.408145
  • usdbUSDB (USDB) $ 0.999528
  • hashnote-usycHashnote USYC (USYC) $ 1.07
  • lorenzo-stbtcLorenzo stBTC (STBTC) $ 83,340.00
  • matic-networkPolygon (MATIC) $ 0.216799
  • ondo-us-dollar-yieldOndo US Dollar Yield (USDY) $ 1.09
  • infrared-beraInfrared Bera (IBERA) $ 5.58
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 1,919.09
  • compound-governance-tokenCompound (COMP) $ 41.83
  • axelarAxelar (AXL) $ 0.394352
  • trust-wallet-tokenTrust Wallet (TWT) $ 0.866965
  • olympusOlympus (OHM) $ 21.87
  • amp-tokenAmp (AMP) $ 0.004245
  • fraxFrax (FRAX) $ 0.998736
  • tbtctBTC (TBTC) $ 83,551.00
  • kaitoKAITO (KAITO) $ 1.46
  • pendlePendle (PENDLE) $ 2.16
  • cgeth-hashkey-cloudcgETH Hashkey Cloud (CGETH.HASH) $ 1,961.61
  • spx6900SPX6900 (SPX) $ 0.371214
  • stakewise-v3-osethStakeWise Staked ETH (OSETH) $ 1,999.72
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000062
  • akash-networkAkash Network (AKT) $ 1.35
  • beam-2Beam (BEAM) $ 0.006237
  • mantle-bridged-usdt-mantleMantle Bridged USDT (Mantle) (USDT) $ 0.998754
  • binance-peg-busdBinance-Peg BUSD (BUSD) $ 1.00
  • based-brettBrett (BRETT) $ 0.032654
  • gnosisGnosis (GNO) $ 124.65
  • fartcoinFartcoin (FARTCOIN) $ 0.321451
  • aioz-networkAIOZ Network (AIOZ) $ 0.277693
  • mina-protocolMina Protocol (MINA) $ 0.260821
  • reserve-rights-tokenReserve Rights (RSR) $ 0.005673
  • morphoMorpho (MORPHO) $ 1.32
  • verus-coinVerus (VRSC) $ 3.95
  • stakestone-berachain-vault-tokenStakeStone Berachain Vault Token (BERASTONE) $ 1,900.71
  • plumePlume (PLUME) $ 0.149313
  • justJUST (JST) $ 0.029920

Lido Finance Dominates TVL at $22.45B and $64.15M in Fees

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Lido Finance Dominates TVL at $22.45B and $64.15M in Fees

The decentralized application (DApp) ecosystem continues to thrive, with a variety of platforms showing impressive growth across multiple metrics such as market capitalization, total value locked (TVL), fees, and monthly revenue.

An analysis of key DApps reveals significant developments, particularly in terms of fees generated and the revenue accrued over the past month. Below is a breakdown of the latest performance data for leading platforms, providing insight into the current state of decentralized finance (DeFi).

KEY METRICS ON POPULAR #DAPPS
#Sky $SKY #Aerodrome $AERO #LidoFinance $LDO #Uniswap $UNI #Aave $AAVE #PancakeSwap $CAKE #Ethena $ENA #Curve $CRV #GMX $GMX pic.twitter.com/yQK3cEeguV

— PHOENIX – Crypto News & Analytics (@pnxgrp) September 17, 2024

According to Phoenix, among the top DApps, Sky (SKY) emerges as the leader, boasting a monthly revenue of $16.37 million, a direct reflection of its market capitalization of $1.42 billion and TVL of $3.84 billion. With significant fees of $16.38 million in the same period, Sky’s strong revenue position highlights its pivotal role in the DeFi space, outperforming others in revenue generation. The platform’s extensive reach and use make it a force within the DApp ecosystem.

Aerodrome and Ethena Stand Out in Growth

Another notable performer is Aerodrome (AERO), which, despite a more modest market cap of $410.79 million, recorded impressive revenue of $13.54 million for the month. Its TVL stands at $730.96 million, showing its appeal within the decentralized finance sector, especially as it continues to gain traction.

Ethena (ENA), a relatively newer player, also stands out with a high revenue of $50.16 million and a TVL of $2.61 billion. Ethena’s fee structure, amassing $50.16 million in fees, places it second only to Lido Finance in the fee category, positioning it as one of the most promising platforms to watch in the coming months.

Lido Finance (LDO) maintains a stronghold in the market with an impressive $22.45 billion TVL, the highest among all the DApps listed. It also recorded substantial fees of $64.15 million, which directly translates to a monthly revenue of $6.41 million. Lido’s dominance in TVL underscores its critical position within the staking and DeFi ecosystems, where its liquid staking solutions remain widely popular.

Two of the more established names in decentralized finance, Uniswap (UNI) and Aave (AAVE), continue to hold their ground. Uniswap’s market capitalization of $6.40 billion and TVL of $5.51 billion indicate its ongoing relevance, while the platform’s revenue stands at $5.15 million. Aave, with its focus on lending, boasts a $10.47 billion TVL and a monthly revenue of $4.81 million, maintaining a steady trajectory in both fees and revenue streams.

PancakeSwap (CAKE), one of the largest decentralized exchanges (DEX) on the Binance Smart Chain, recorded $4.15 million in revenue, with a TVL of $1.47 billion. Curve (CRV), known for its stablecoin swapping mechanism, generated $2.05 million in revenue, while GMX (GMX), with a more niche user base, achieved a revenue of $1.21 million, rounding out the competitive mix of popular decentralized applications.

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