Recent data from DefiLlama shows that Tether’s USDT and Circle’s USDC stablecoins are dominating the market, generating a combined revenue of $121 million in the last week. This is a clear indication of the growing popularity of stablecoins in the cryptocurrency space.
Ethereum, Tron, and Solana Networks
Aside from stablecoins, the Ethereum, Tron, and Solana networks have also seen significant revenue in the past seven days. Ethereum leads the pack with $19 million, followed by Tron with $11 million and Solana with $9.6 million. Solana-based protocols and trading bots are not far behind, with platforms like Photon and pump.fun generating over $6 million each.
Solana Surpasses Ethereum-based DeFi Heavyweights
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Interestingly, Solana-based protocols and trading bots have surpassed Ethereum-based DeFi heavyweights such as Maker, Lido, and Aave in terms of revenue. This demonstrates the growing potential of Solana as a blockchain platform and its ability to compete with established players in the DeFi space.
Overall, the cryptocurrency market is constantly evolving, with new players like Solana and trading bots like Photon and pump.fun making significant strides in terms of revenue generation. It will be interesting to see how this trend continues in the coming weeks and months.
