When exploring potential digital currency projects to engage with, revenue is one of the most significant indications for a project’s finances and long-term prospects. The higher revenues earned typically indicate strong utility and user demand, which can contribute to a project’s ability to grow amid competition. Projects that generate massive revenues demonstrate financial stability, resilience, and growth, which, as a result, attract network participants and investors.
Top 15 crypto projects with the biggest revenues
Data according to Phoenix Group today highlighted the top 15 crypto projects that generated the highest revenues in the last 30 days.
- Tether
Interestingly, Tether (USDT) emerged as the top project with the highest revenue of $529 million over the past month. Tether earns interest on various reserve holdings, which contribute a substantial part of its revenues. The company also generates revenues from service and transaction fees. It also invests in various financial assets and ventures that earn gains in such investments.
- Raydium
Raydium scooped the second position with a monthly revenue of $298 million. Raydium mainly generates its revenues through trading fees earned on its DEX platform. It collects such fees from customers who swap tokens on the decentralized exchange.
- Jito
Jito (JTO) became the third with $271 monthly revenue. Jito majorly generates its revenue through its liquid staking protocol on Solana.
- Meteora
Moving down, Meteora took the fourth position with $177 monthly million. Meteora mainly earns its income through trading fees on its DEX platform. Customers pay such fees whenever they swap tokens.
- Circle
It was followed by Circle (USDC), which collected revenue of $149 million over the past 30 days. Circle majorly generates its revenues through interest earned on various reserves it holds. It also earns massive income through trading fees.
- Uniswap
Uniswap secured the sixth position with $148 million in monthly revenue. Generally, Uniswap earns income through trading fees. Customers pay a small fee of 0.3% when swapping tokens on the platform.
- Pancakeswap
Pancakeswap followed closely with $148 million. Pancakeswap generates its income through multiple sources. It earns a big part of its income from trading fees on its DEX platform. It also generates revenues from its NFT marketplace, speculation markets, and IFO (Initial Farm Offering).
- Pump.fun
Pump.fun settled on position eight with a monthly revenue of $119 million. It earns its income through transaction fees on its trading platform. It takes a small fee on every transaction, which enables it to earn income based on the trading volume of its ecosystem.
- Lido
Lido took position nine with a $86.7 million monthly income. Lido earns income mainly through staking fees. When customers stake their assets on Lido’s staking app, Lido takes a small fee for staking rewards earned.
- Others
While Photon secured the 10th position with $77.6 monthly million, Aave followed it with $61.4 million. BullX and Sky also gained visibility with their monthly revenues that amounted to $45.3 million and $41 million respectively. Lastly, Orca and Ethena earned monthly revenues of $39.4 million and $37.9 million respectively over the past 30 days.
Conclusion
Strong utility and user demand can be seen in the highly profitable projects listed above, which signal their long-term stability and ability to grow in the competitive crypto market. These impressive revenues reflect that these projects control huge numbers of active developers, daily active users, and overall market valuation. These parameters are essential as they indicate a project’s viability and overall health, helping investors to make smart decisions in the volatile market.
