Haciyev Reşit 
As price volatility and selling pressure persist across the cryptocurrency market, data from the past 30 days has revealed the altcoin projects generating the highest revenues. Notably, during a period when the broader market has shown weakness, several projects have continued to produce strong income. This once again highlights that price performance and protocol revenue do not always move in direct correlation. Stablecoin issuers and major blockchain networks dominate the top of the list, while decentralized exchanges (DEXs), derivatives platforms, and Layer-2 solutions have also recorded significant revenue growth. Protocols with high transaction volumes appear to benefit from increased user activity during volatile periods. This suggests that infrastructure and financial product providers within the crypto ecosystem can maintain revenue generation even in declining market conditions.
Stablecoin Giants Lead the Rankings
According to the latest data, stablecoin issuers continue to dominate on the revenue side. Over the past 30 days:
- Tether (USDT) generated approximately $492.43 million
- Circle (USDC) generated approximately $187.73 million
Daily and weekly earnings figures indicate that stablecoin projects continue to generate consistent and strong cash flows. This reflects how stablecoin issuers benefit from high-interest-rate environments by earning substantial income from their reserve assets. Tether’s clear leadership further reinforces its dominance in the stablecoin market, while Circle’s strong performance demonstrates ongoing sector competition. High interest yields and growing stablecoin adoption remain key factors enabling these projects to generate stable revenues, even during market downturns.
Strong growth rates were also observed in DeFi protocols such as Sky (formerly MakerDAO) and Aave. In particular, Aave recorded monthly growth exceeding 75%, signaling renewed interest in lending and liquidity protocols. This suggests that transaction volume and user activity within the DeFi ecosystem may be recovering.
Top Revenue-Generating Crypto Projects (Last 30 Days)
According to the latest data, the highest revenue-generating projects over the past 30 days were dominated by stablecoin issuers and transaction-focused platforms.
Top Revenue Projects:
- Tether (USDT) – $492.43 million
- Circle (USDC) – $187.73 million
- Hyperliquid – $63.77 million
- Pump – $44.71 million
- Tron (TRX) – $26.98 million
- Flashbots – $22.06 million
- edgeX – $21.78 million
- Grayscale – $19.53 million
- Sky – $17.98 million
- Jupiter – $15.98 million
- Phantom – $12.93 million
- Titan Builder – $12.44 million
- Axiom Pro – $12.43 million
- Base – $10.27 million
- Aave – $9.49 million
- Fragment – $6.91 million
The data shows that stablecoin issuers and blockchain infrastructure projects continue generating strong revenues despite market weakness. High growth rates in projects such as Base, Aave, and Sky indicate renewed activity across DeFi and Layer-2 ecosystems.
Base and Hyperliquid Attract Attention
Significant revenue growth was also observed in the Layer-2 and derivatives sectors. Base recorded monthly revenue growth exceeding 223%, reflecting rapidly increasing network activity and transaction volume. Rising transaction counts and new ecosystem projects contributed directly to Base’s revenue performance. On the derivatives side, Hyperliquid benefited from strong trading volumes, with growing demand for leveraged trading and an increasing user base boosting platform revenues. Meanwhile, decentralized exchanges and memecoin-oriented platforms such as Pump and PancakeSwap also stood out for revenue growth. During periods of high volatility, elevated trading activity typically increases commission income for these platforms. Overall, the data demonstrates that transaction-focused protocols continue to generate revenue even amid declining price conditions.
Conclusion
Despite ongoing price corrections in the crypto market, blockchain projects continue to generate substantial revenue. Stablecoin issuers, DeFi protocols, and Layer-2 networks remain strong performers, highlighting sustained usage and transaction activity across the ecosystem. If market conditions improve in the coming period, revenue performance across these sectors could strengthen even further.
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