The cryptocurrency market has seen significant fee-based revenue generation this week, with Tether emerging as the top performer.
Over the past seven days, Tether brought in $122.78 million, reflecting its dominance as a critical player in crypto transactions. Supporting 11 networks, including Ethereum, Solana, and Tron, Tether remains essential for seamless cross-chain transfers.
Stablecoins continue to lead the revenue race, with Circle generating $33.33 million, highlighting the growing reliance on digital dollars for payments. Layer-1 blockchains are also thriving, with Solana outpacing Ethereum by earning $35.06 million in weekly fees compared to Ethereum’s $30.33 million. These numbers underscore Solana’s active user base and high transaction volumes.
Liquid staking is another booming sector, with Jito earning $43.42 million, surpassing Lido’s $20.78 million. This trend reflects increasing demand for yield-generating options that maintain liquidity.
Decentralized finance (DeFi) protocols also performed well, particularly decentralized exchanges. Raydium led with $43.36 million in weekly fees, followed by Uniswap at $31.97 million. In contrast, lending protocols like Aave, which earned $15.32 million, trailed behind, as trading activity currently overshadows borrowing and lending.
This week’s data highlights a market increasingly driven by transaction fees and real utility, showcasing the shifting dynamics of crypto adoption and usage.