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Crypto Revenue Rankings
Which blockchains and crypto protocols earn the most. Blockchains ranked by the fees users pay for blockspace, protocols ranked by revenue, over 30 days and 12 months. Data from DefiLlama, refreshed every day by Castle Labs.
Short answer
In the 30 days to 1 November 2026, Tron collected the most blockspace fees of any blockchain ($23.9M), ahead of Ethereum ($22.1M) and Solana ($22.0M).
Among protocols, Tether earned the most revenue ($521.3M), followed by Circle ($208.5M), Papertrade ($68.9M) and Hyperliquid ($67.2M).
Top Crypto Protocols by Revenue
Revenue over the last 30 days, ten largest
Source: DefiLlama · Data to 1 Nov 2026 · Updated daily
View the data
| 30-day revenue | |
|---|---|
| Tether | $521M |
| Circle | $209M |
| Papertrade | $68.88M |
| Hyperliquid | $67.15M |
| pump.fun | $63.93M |
| Titan Builder | $26.59M |
| Collector Crypt | $18.07M |
| Grayscale | $17.59M |
| Polymarket | $16.81M |
| Sky Lending | $13.36M |
Top Blockchains by Fees
Blockspace fees paid over the last 30 days, ten largest
Source: DefiLlama · Data to 1 Nov 2026 · Updated daily
View the data
| 30-day fees | |
|---|---|
| Tron | $23.95M |
| Ethereum | $22.11M |
| Solana | $22.01M |
| BSC | $13.2M |
| Bitcoin | $6.43M |
| Base | $2.47M |
| Polygon | $2.07M |
| RISE | $1.66M |
| Robinhood Chain | $1.47M |
| Hyperliquid L1 | $819K |
Crypto protocols by revenue, last 30 days
Updated 1 November 2026 · $1.16B across the top 30| # | Protocol | Category | 30d revenue | Share | 30d fees | 12m revenue | vs prior 30d |
|---|---|---|---|---|---|---|---|
| 1 | Tether | Stablecoin Issuer | $521.3M | 45% | $521.3M | $5.96B | +2.9% |
| 2 | Circleincl. Circle USDC, Circle CCTP | Stablecoin Issuer | $208.5M | 18% | $208.5M | $2.38B | +0.5% |
| 3 | Papertrade | Derivatives | $68.9M | 5.9% | $68.9M | $68.9M | n/a |
| 4 | Hyperliquidincl. Hyperliquid Perps, Hyperliquid Spot Orderbook, Hyperliquid Outcomes | Derivatives | $67.2M | 5.8% | $85.0M | $686.0M | -8.9% |
| 5 | pump.funincl. pump.fun, PumpSwap, pump.fun Mobile App, Terminal | Launchpad | $63.9M | 5.5% | $177.3M | $493.2M | +19% |
| 6 | Titan Builder | Block Builders | $26.6M | 2.3% | $31.9M | $121.1M | +471% |
| 7 | Collector Crypt | Physical TCG | $18.1M | 1.6% | $18.1M | $104.3M | +39% |
| 8 | Grayscale | RWA | $17.6M | 1.5% | $17.6M | $196.2M | -1.1% |
| 9 | Polymarketincl. Polymarket International, Polymarket Combos | Prediction Market | $16.8M | 1.5% | $33.6M | $139.8M | +7.9% |
| 10 | Sky Lending | CDP | $13.4M | 1.2% | $28.3M | $193.6M | -0.7% |
| 11 | fomoincl. fomo Wallet, fomo Perps, fomo Spot, fomo Outcome | Trading App | $13.3M | 1.1% | $13.8M | $87.1M | -59% |
| 12 | Axiomincl. Axiom, Axiom Perps | Trading App | $12.5M | 1.1% | $26.4M | $153.1M | -32% |
| 13 | World Liberty Financial | Lending | $11.7M | 1.0% | $11.7M | $128.8M | -1.5% |
| 14 | Paxos Stablecoin Issuer | Stablecoin Issuer | $9.7M | 0.8% | $19.9M | $124.7M | +6.2% |
| 15 | GMGN | Trading App | $9.6M | 0.8% | $12.4M | $158.4M | -75% |
| 16 | Uniswap V3 | Dexs | $8.2M | 0.7% | $34.8M | $61.3M | -46% |
| 17 | Aerodrome Slipstreamincl. Aerodrome Slipstream, Aero Slipstream, Aerodrome V1, Velodrome V3, Aero Basic, Velodrome V2, Velodrome V1 | Dexs | $7.6M | 0.7% | $10.7M | $89.4M | -51% |
| 18 | Ripple USD | Stablecoin Issuer | $7.4M | 0.6% | $7.4M | $55.2M | +5.3% |
| 19 | Flap sh | Launchpad | $6.4M | 0.6% | $27.5M | $39.3M | -32% |
| 20 | Phantomincl. Phantom Wallet, Phantom Perps | Wallets | $6.2M | 0.5% | $6.2M | $103.9M | -25% |
| 21 | StonkFun | Launchpad | $6.1M | 0.5% | $7.4M | $37.0M | -79% |
| 22 | Lighterincl. Lighter Perps, Lighter Robinhood Perps, Lighter Spot | Derivatives | $5.0M | 0.4% | $6.1M | $61.3M | +15% |
| 23 | Aaveincl. Aave V3, Aave V4, Aave V2 | Lending | $5.0M | 0.4% | $38.4M | $90.1M | +2.6% |
| 24 | GMXincl. GMX Solana, GMX EVM | Derivatives | $4.5M | 0.4% | $5.3M | $19.3M | +111% |
| 25 | Chainlink Staking | Services | $4.3M | 0.4% | $4.3M | $58.8M | -23% |
| 26 | ORE Protocol | Gamified Mining | $4.2M | 0.4% | $4.2M | $43.3M | +66% |
| 27 | Jupiterincl. Jupiter Perpetual Exchange, Jupiter Aggregator, Jupiter Lend, Jupiter YOLO, Jupiter Staked SOL, Jupiter DCA, Jupiter Offerbook, Jupiter Studio, Jupiter Lend DEX, Jupiter Limit | DEX Aggregator | $3.9M | 0.3% | $15.6M | $73.4M | -37% |
| 28 | ether.fi Stakeincl. ether.fi Stake, EtherFi Cash Liquid, ether.fi Liquid, EtherFi Borrowing Market | Liquid Staking | $3.8M | 0.3% | $12.5M | $43.9M | -0.1% |
| 29 | PancakeSwapincl. PancakeSwap AMM V3, PancakeSwap AMM, PancakeSwap Prediction, PancakeSwap Infinity, PancakeSwap Lottery, PancakeSwap StableSwap | Dexs | $3.8M | 0.3% | $11.2M | $61.7M | -52% |
| 30 | Meteoraincl. Meteora DLMM, Meteora DAMM V2, Meteora Dynamic Bonding Curve, Meteora DAMM V1 | Dexs | $3.5M | 0.3% | $29.0M | $47.0M | -46% |
Source: DefiLlama revenue. Chains excluded; products of one company grouped. Share is of the top 30.
Blockchains by fees, last 30 days
Updated 1 November 2026 · $99.9M across the top 25| # | Blockchain | 30d fees | Share | 30d revenue | 12m fees | vs prior 30d |
|---|---|---|---|---|---|---|
| 1 | Tron | $23.9M | 24% | $23.9M | $335.2M | +0.4% |
| 2 | Ethereum | $22.1M | 22% | $7.3M | $183.9M | +35% |
| 3 | Solana | $22.0M | 22% | $2.6M | $234.8M | -13% |
| 4 | BSC | $13.2M | 13% | $1.3M | $162.6M | -40% |
| 5 | Bitcoin | $6.4M | 6.4% | $0 | $73.4M | -11% |
| 6 | Base | $2.5M | 2.5% | $2.5M | $49.2M | -47% |
| 7 | Polygon | $2.1M | 2.1% | $2.1M | $30.6M | -7.5% |
| 8 | RISE | $1.7M | 1.7% | $0 | $6.4M | -1.2% |
| 9 | Robinhood Chain | $1.5M | 1.5% | $1.3M | $47.7M | -95% |
| 10 | Hyperliquid L1 | $818.7K | 0.8% | $818.7K | $9.5M | +30% |
| 11 | Arbitrum | $595.5K | 0.6% | $586.5K | $7.8M | -4.7% |
| 12 | Provenance | $464.6K | 0.5% | $0 | $3.5M | +55% |
| 13 | Avalanche | $349.4K | 0.3% | $349.4K | $2.8M | -0.8% |
| 14 | Monad | $323.8K | 0.3% | $273.5K | $2.5M | -30% |
| 15 | Quai | $296.2K | 0.3% | $178.5K | $6.8M | -5.7% |
| 16 | Injective | $241.2K | 0.2% | $241.2K | $3.4M | +12% |
| 17 | Starknet | $212.3K | 0.2% | $209.6K | $2.0M | -5.8% |
| 18 | Akash | $199.4K | 0.2% | $0 | $2.0M | -30% |
| 19 | Near | $183.3K | 0.2% | $128.3K | $1.2M | +43% |
| 20 | ICP | $180.3K | 0.2% | $180.3K | $2.0M | -4.8% |
| 21 | Fuel Ignition | $147.5K | 0.1% | $0 | $1.1M | +29% |
| 22 | Sui | $146.5K | 0.1% | $20.8K | $2.8M | -19% |
| 23 | Cardano | $138.7K | 0.1% | $27.7K | $983.7K | +175% |
| 24 | Aptos | $131.7K | 0.1% | $131.7K | $1.2M | +13% |
| 25 | Filecoin | $121.8K | 0.1% | $121.8K | $2.0M | +58% |
Source: DefiLlama chain fees. Fees are gas paid by users; revenue is the part burned or kept by the chain operator.
From the report
The Verticalisation Thesis: How Blockchain Revenue Models Are Evolving
Ethereum's chain fees fell 94.7% from 2021 to 2025 while Hyperliquid, which runs its own exchange, generated over $1 billion in fees in a year. Our July 2026 report explains why chains are verticalising and what it means for how they make money.
Questions and Method
- Which blockchain makes the most money?
- Measured by the fees users paid for blockspace over the 30 days to 1 November 2026, Tron leads with $23.9M. Over 12 months the leader is Tron ($335.2M). Chain fees are small next to the applications built on them: the top protocol, Tether, earned $521.3M in the same 30 days.
- Which crypto protocol has the highest revenue?
- Tether ($521.3M over 30 days), then Circle ($208.5M). Stablecoin issuers earn interest on the reserves behind their tokens and took 64% of the revenue of the top 30 protocols. Excluding issuers, the leader is Papertrade.
- What is the difference between fees and revenue?
- Fees are what users pay to use a chain or a protocol. Revenue is the part the chain or protocol keeps. For a blockchain, DefiLlama counts as revenue the fees that are burned or kept by the chain operator rather than paid to validators, which is why Bitcoin shows fees but no revenue. For a protocol, revenue is what is left after paying liquidity providers, lenders and other suppliers.
- Why does Hyperliquid's chain earn so little when the exchange earns so much?
- Hyperliquid's L1 collected $818.7K in gas fees over 30 days, while the exchange running on it earned $67.2M in revenue. The chain does not need to sell blockspace because it owns its main application. Castle Labs' report The Verticalisation Thesis covers why chains are moving from selling blockspace to running their own revenue-generating products.
- Where does this data come from and how often is it updated?
- From DefiLlama's fees and revenue dashboards, refreshed every day by Castle Labs. Products of one company are grouped under it (pump.fun with PumpSwap, Hyperliquid's perps and spot). Chains are ranked by 30-day fees, protocols by 30-day revenue. The raw snapshot is published as JSON.
Raw data, refreshed daily: revenue.json. Free to cite with a link to this page.
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