Tether Tops 30-Day Crypto Revenue Rankings as Hyperliquid and Uniswap Surge

1 hour ago 2 sources neutral

Key takeaways:

  • Stablecoin revenue dominance is structural, while DeFi growth signals renewed risk appetite.
  • Hyperliquid and Uniswap gains suggest derivatives and DEX trading lead the recovery.
  • Watch GMGN and pump.fun momentum as proxies for speculative retail sentiment cooling.

New data tracking crypto project revenues over the past 30 days shows stablecoin issuers and major blockchain networks dominating total income, while several decentralized trading platforms recorded the strongest growth during the recent market upswing.

Tether led all projects with $438.9 million in revenue, despite a slight 0.1% decrease from the previous period. Tron followed with $224.6 million (-0.7%), and Circle rounded out the top three with $181.5 million (-1.3%).

Beyond the top three, the decentralized derivatives exchange Hyperliquid (HYPE) generated $48.6 million, up 25.3%, while memecoin trading platform pump.fun (PUMP) posted $30.7 million and a 62.3% increase.

Other notable figures included Sky at $30.5 million (-11.7%), Polymarket at $25.6 million (-29.7%), GMGN at $17.1 million (+159%), Axiom Trade at $15.4 million (+59.5%), Ethena at $14.7 million (-1.8%), PancakeSwap at $10.5 million (+18%), Grove at $7.2 million (+9.7%), Uniswap at $6.1 million (+74.7%), Phantom at $6.0 million (-2.4%), and Lido Finance at $4.7 million (+15%).

The strongest percentage growth came from GMGN at +159%, followed by Uniswap at +74.7%, pump.fun at +62.3%, and Axiom Trade at +59.5%, reflecting renewed activity across DeFi and memecoin-related platforms during the period.

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