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Bitcoin Bitcoin (BTC) $118,057.00 ↑ 0.60%
Ethereum Ethereum (ETH) $3,751.30 ↑ 0.72%
XRP XRP (XRP) $3.18 ↑ 1.12%
Tether USDt Tether USDt (USDT) $1.00 ↑ 0.02%
BNB BNB (BNB) $794.53 ↑ 1.38%
Solana Solana (SOL) $184.70 ↓ -0.76%
USDC USDC (USDC) $1.00 ↑ 0.00%
Dogecoin Dogecoin (DOGE) $0.24 ↑ 0.20%
TRON TRON (TRX) $0.32 ↑ 1.12%
Cardano Cardano (ADA) $0.82 ↑ 1.12%
Hyperliquid Hyperliquid (HYPE) $43.63 ↓ -0.48%
Sui Sui (SUI) $4.17 ↑ 5.31%
Stellar Stellar (XLM) $0.44 ↑ 1.17%
Chainlink Chainlink (LINK) $18.48 ↑ 0.97%
Hedera Hedera (HBAR) $0.28 ↑ 7.92%
Bitcoin Cash Bitcoin Cash (BCH) $561.22 ↑ 0.80%
Avalanche Avalanche (AVAX) $24.99 ↑ 4.15%
Litecoin Litecoin (LTC) $114.35 ↑ 0.67%
UNUS SED LEO UNUS SED LEO (LEO) $8.98 ↑ 1.10%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -0.35%
Toncoin Toncoin (TON) $3.31 ↑ 3.67%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.02%
Uniswap Uniswap (UNI) $10.57 ↑ 1.92%
Polkadot Polkadot (DOT) $4.14 ↑ 1.15%
Monero Monero (XMR) $324.40 ↑ 1.05%
Dai Dai (DAI) $1.00 ↑ 0.01%
Bitget Token Bitget Token (BGB) $4.56 ↑ 0.24%
Pepe Pepe (PEPE) $0.00 ↓ -0.56%
Cronos Cronos (CRO) $0.14 ↑ 6.48%
Aave Aave (AAVE) $295.82 ↑ 0.72%
Bittensor Bittensor (TAO) $428.73 ↑ 0.49%
Ethena Ethena (ENA) $0.63 ↑ 1.05%
NEAR Protocol NEAR Protocol (NEAR) $2.89 ↑ 1.15%
Ethereum Classic Ethereum Classic (ETC) $22.92 ↑ 0.96%
Pi Pi (PI) $0.44 ↓ -0.20%
Ondo Ondo (ONDO) $1.05 ↑ 0.83%
Aptos Aptos (APT) $4.82 ↑ 1.40%
Internet Computer Internet Computer (ICP) $5.68 ↑ 1.19%
OKB OKB (OKB) $48.85 ↑ 1.56%
Bonk Bonk (BONK) $0.00 ↓ -1.48%
Mantle Mantle (MNT) $0.80 ↑ 4.02%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↑ 9.67%
Kaspa Kaspa (KAS) $0.10 ↓ -2.31%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.24 ↑ 1.22%
Algorand Algorand (ALGO) $0.28 ↑ 3.39%
Arbitrum Arbitrum (ARB) $0.45 ↑ 1.83%
VeChain VeChain (VET) $0.03 ↑ 0.73%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↓ -0.05%
Render Render (RENDER) $4.23 ↑ 0.86%
GateToken GateToken (GT) $17.83 ↑ 1.26%
Worldcoin Worldcoin (WLD) $1.17 ↑ 0.41%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $10.17 ↑ 0.74%
Sky Sky (SKY) $0.09 ↑ 2.66%
Sei Sei (SEI) $0.34 ↑ 1.56%
Cosmos Cosmos (ATOM) $4.78 ↑ 1.75%
SPX6900 SPX6900 (SPX) $1.97 ↑ 4.27%
Filecoin Filecoin (FIL) $2.67 ↑ 0.93%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.73 ↓ -0.81%
Flare Flare (FLR) $0.03 ↑ 12.45%
Jupiter Jupiter (JUP) $0.56 ↑ 1.09%
Story Story (IP) $5.47 ↑ 0.09%
Curve DAO Token Curve DAO Token (CRV) $1.10 ↑ 6.44%
Injective Injective (INJ) $15.03 ↑ 7.51%
KuCoin Token KuCoin Token (KCS) $11.64 ↓ -3.05%
Quant Quant (QNT) $122.40 ↑ 1.18%
XDC Network XDC Network (XDC) $0.09 ↑ 4.04%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.02%
Celestia Celestia (TIA) $1.93 ↓ -0.99%
Fartcoin Fartcoin (FARTCOIN) $1.33 ↓ -2.53%
Stacks Stacks (STX) $0.81 ↑ 0.27%
Four Four (FORM) $3.36 ↓ -1.13%
Optimism Optimism (OP) $0.72 ↑ 0.68%
FLOKI FLOKI (FLOKI) $0.00 ↓ -0.27%
Ethereum Name Service Ethereum Name Service (ENS) $30.42 ↑ 6.61%
Immutable Immutable (IMX) $0.57 ↑ 0.68%
dogwifhat dogwifhat (WIF) $1.07 ↓ -0.45%
The Graph The Graph (GRT) $0.11 ↑ 0.54%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.58 ↑ 0.92%
Kaia Kaia (KAIA) $0.17 ↑ 1.54%
Pump.fun Pump.fun (PUMP) $0.00 ↑ 4.15%
Lido DAO Lido DAO (LDO) $1.08 ↓ -1.18%
Sonic Sonic (S) $0.34 ↑ 1.03%
PancakeSwap PancakeSwap (CAKE) $2.81 ↑ 2.29%
Tezos Tezos (XTZ) $0.90 ↑ 0.70%
PAX Gold PAX Gold (PAXG) $3,356.68 ↑ 0.00%
Conflux Conflux (CFX) $0.18 ↓ -1.41%
Vaulta Vaulta (A) $0.57 ↓ -0.67%
Theta Network Theta Network (THETA) $0.89 ↑ 1.26%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.01%
JasmyCoin JasmyCoin (JASMY) $0.02 ↑ 0.49%
Nexo Nexo (NEXO) $1.31 ↓ -0.70%
IOTA IOTA (IOTA) $0.21 ↑ 2.38%
Tether Gold Tether Gold (XAUt) $3,348.77 ↑ 0.10%
Raydium Raydium (RAY) $3.04 ↑ 1.50%
Gala Gala (GALA) $0.02 ↑ 0.84%
The Sandbox The Sandbox (SAND) $0.31 ↑ 2.09%
Aerodrome Finance Aerodrome Finance (AERO) $0.89 ↑ 0.03%
Pyth Network Pyth Network (PYTH) $0.13 ↑ 0.87%
Pendle Pendle (PENDLE) $4.45 ↓ -0.50%
Jito Jito (JTO) $2.00 ↑ 1.39%
Bitcoin Bitcoin (BTC) $118,057.00 ↑ 0.60%
Ethereum Ethereum (ETH) $3,751.30 ↑ 0.72%
XRP XRP (XRP) $3.18 ↑ 1.12%
Tether USDt Tether USDt (USDT) $1.00 ↑ 0.02%
BNB BNB (BNB) $794.53 ↑ 1.38%
Solana Solana (SOL) $184.70 ↓ -0.76%
USDC USDC (USDC) $1.00 ↑ 0.00%
Dogecoin Dogecoin (DOGE) $0.24 ↑ 0.20%
TRON TRON (TRX) $0.32 ↑ 1.12%
Cardano Cardano (ADA) $0.82 ↑ 1.12%
Hyperliquid Hyperliquid (HYPE) $43.63 ↓ -0.48%
Sui Sui (SUI) $4.17 ↑ 5.31%
Stellar Stellar (XLM) $0.44 ↑ 1.17%
Chainlink Chainlink (LINK) $18.48 ↑ 0.97%
Hedera Hedera (HBAR) $0.28 ↑ 7.92%
Bitcoin Cash Bitcoin Cash (BCH) $561.22 ↑ 0.80%
Avalanche Avalanche (AVAX) $24.99 ↑ 4.15%
Litecoin Litecoin (LTC) $114.35 ↑ 0.67%
UNUS SED LEO UNUS SED LEO (LEO) $8.98 ↑ 1.10%
Shiba Inu Shiba Inu (SHIB) $0.00 ↓ -0.35%
Toncoin Toncoin (TON) $3.31 ↑ 3.67%
Ethena USDe Ethena USDe (USDe) $1.00 ↑ 0.02%
Uniswap Uniswap (UNI) $10.57 ↑ 1.92%
Polkadot Polkadot (DOT) $4.14 ↑ 1.15%
Monero Monero (XMR) $324.40 ↑ 1.05%
Dai Dai (DAI) $1.00 ↑ 0.01%
Bitget Token Bitget Token (BGB) $4.56 ↑ 0.24%
Pepe Pepe (PEPE) $0.00 ↓ -0.56%
Cronos Cronos (CRO) $0.14 ↑ 6.48%
Aave Aave (AAVE) $295.82 ↑ 0.72%
Bittensor Bittensor (TAO) $428.73 ↑ 0.49%
Ethena Ethena (ENA) $0.63 ↑ 1.05%
NEAR Protocol NEAR Protocol (NEAR) $2.89 ↑ 1.15%
Ethereum Classic Ethereum Classic (ETC) $22.92 ↑ 0.96%
Pi Pi (PI) $0.44 ↓ -0.20%
Ondo Ondo (ONDO) $1.05 ↑ 0.83%
Aptos Aptos (APT) $4.82 ↑ 1.40%
Internet Computer Internet Computer (ICP) $5.68 ↑ 1.19%
OKB OKB (OKB) $48.85 ↑ 1.56%
Bonk Bonk (BONK) $0.00 ↓ -1.48%
Mantle Mantle (MNT) $0.80 ↑ 4.02%
Pudgy Penguins Pudgy Penguins (PENGU) $0.04 ↑ 9.67%
Kaspa Kaspa (KAS) $0.10 ↓ -2.31%
POL (prev. MATIC) POL (prev. MATIC) (POL) $0.24 ↑ 1.22%
Algorand Algorand (ALGO) $0.28 ↑ 3.39%
Arbitrum Arbitrum (ARB) $0.45 ↑ 1.83%
VeChain VeChain (VET) $0.03 ↑ 0.73%
World Liberty Financial USD World Liberty Financial USD (USD1) $1.00 ↓ -0.05%
Render Render (RENDER) $4.23 ↑ 0.86%
GateToken GateToken (GT) $17.83 ↑ 1.26%
Worldcoin Worldcoin (WLD) $1.17 ↑ 0.41%
OFFICIAL TRUMP OFFICIAL TRUMP (TRUMP) $10.17 ↑ 0.74%
Sky Sky (SKY) $0.09 ↑ 2.66%
Sei Sei (SEI) $0.34 ↑ 1.56%
Cosmos Cosmos (ATOM) $4.78 ↑ 1.75%
SPX6900 SPX6900 (SPX) $1.97 ↑ 4.27%
Filecoin Filecoin (FIL) $2.67 ↑ 0.93%
Artificial Superintelligence Alliance Artificial Superintelligence Alliance (FET) $0.73 ↓ -0.81%
Flare Flare (FLR) $0.03 ↑ 12.45%
Jupiter Jupiter (JUP) $0.56 ↑ 1.09%
Story Story (IP) $5.47 ↑ 0.09%
Curve DAO Token Curve DAO Token (CRV) $1.10 ↑ 6.44%
Injective Injective (INJ) $15.03 ↑ 7.51%
KuCoin Token KuCoin Token (KCS) $11.64 ↓ -3.05%
Quant Quant (QNT) $122.40 ↑ 1.18%
XDC Network XDC Network (XDC) $0.09 ↑ 4.04%
First Digital USD First Digital USD (FDUSD) $1.00 ↑ 0.02%
Celestia Celestia (TIA) $1.93 ↓ -0.99%
Fartcoin Fartcoin (FARTCOIN) $1.33 ↓ -2.53%
Stacks Stacks (STX) $0.81 ↑ 0.27%
Four Four (FORM) $3.36 ↓ -1.13%
Optimism Optimism (OP) $0.72 ↑ 0.68%
FLOKI FLOKI (FLOKI) $0.00 ↓ -0.27%
Ethereum Name Service Ethereum Name Service (ENS) $30.42 ↑ 6.61%
Immutable Immutable (IMX) $0.57 ↑ 0.68%
dogwifhat dogwifhat (WIF) $1.07 ↓ -0.45%
The Graph The Graph (GRT) $0.11 ↑ 0.54%
Virtuals Protocol Virtuals Protocol (VIRTUAL) $1.58 ↑ 0.92%
Kaia Kaia (KAIA) $0.17 ↑ 1.54%
Pump.fun Pump.fun (PUMP) $0.00 ↑ 4.15%
Lido DAO Lido DAO (LDO) $1.08 ↓ -1.18%
Sonic Sonic (S) $0.34 ↑ 1.03%
PancakeSwap PancakeSwap (CAKE) $2.81 ↑ 2.29%
Tezos Tezos (XTZ) $0.90 ↑ 0.70%
PAX Gold PAX Gold (PAXG) $3,356.68 ↑ 0.00%
Conflux Conflux (CFX) $0.18 ↓ -1.41%
Vaulta Vaulta (A) $0.57 ↓ -0.67%
Theta Network Theta Network (THETA) $0.89 ↑ 1.26%
PayPal USD PayPal USD (PYUSD) $1.00 ↑ 0.01%
JasmyCoin JasmyCoin (JASMY) $0.02 ↑ 0.49%
Nexo Nexo (NEXO) $1.31 ↓ -0.70%
IOTA IOTA (IOTA) $0.21 ↑ 2.38%
Tether Gold Tether Gold (XAUt) $3,348.77 ↑ 0.10%
Raydium Raydium (RAY) $3.04 ↑ 1.50%
Gala Gala (GALA) $0.02 ↑ 0.84%
The Sandbox The Sandbox (SAND) $0.31 ↑ 2.09%
Aerodrome Finance Aerodrome Finance (AERO) $0.89 ↑ 0.03%
Pyth Network Pyth Network (PYTH) $0.13 ↑ 0.87%
Pendle Pendle (PENDLE) $4.45 ↓ -0.50%
Jito Jito (JTO) $2.00 ↑ 1.39%
Home Cryptocurrency

dApps Surge to $164 Million Revenue in a Month, Marking Blockchain Boom

Gayatri Ailyaani by Gayatri Ailyaani
8 November 2024
in Cryptocurrency, News
Reading Time: 3 mins read
0
Dapps Achieve Remarkable Revenue Milestone of $164 Million in October 2024

dApps Surge to $164 Million Revenue in a Month, Marking Blockchain Boom

Based on a recent study conducted by Binance Research, most of the decentralized applications (dApps) have made a huge revenue of $164 million in October 2024. This itself sets up the of the increased, adoption and usage of dApps. This rapid upturn in metrics points towards an increasing affinity towards blockchain technology, more so attributed to the rapid rise of both trading bots and decentralized exchanges (DEXs).

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Table of Contents

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    • YOU MAY BE INTERESTED
    • Charge with the Bulls: MoonBull Whitelist Opens Early Access for the Hottest New Meme Coin –  SLERF and Cheems Still Climbing
    • 3 Best Cryptos to Join in 2025 With One Meme Coin’s Whitelist Gaining Massive Traction 
  • Why Users Are Shifting Away from Centralized Systems
  • Trading Bots and DEXs Lead the Charge in October
  • Infrastructure Projects Under Scrutiny: Are Layer-1 and Layer-2 Initiatives Overfunded?
  • Revenue Signals a Promising Future for Decentralized Applications

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The report highlights that 12 out of the 15 dApp protocols recorded the highest revenues in October, which signifies a positive trend in blockchain usage. The total income earned from these applications shows that the market is on the rise in regard to decentralized finance (DeFi), especially now that users are more active on trading platforms. Notably, the top three blockchains, Tron, Ethereum, and Solana, managed to earn as much as $182 million in revenue, which makes them stand out in their market competitiveness.

Why Users Are Shifting Away from Centralized Systems

Dapps Achieve Remarkable Revenue Milestone of $164 Million in October 2024

The increase in dApp engagements has been on the rise for the past few months, which depicts that users are more inclined towards tech-savvy options than conventional centralized ones. This is especially notable since the time of the speculative trading of meme coins, which in turn has led to increased profitability of various apps.

Among the standout Dapp performers were Solana-based applications such as Pump. fun and Photon that stood out at the top, which made a combined revenue of $29 million last month. “Other trading bots, including but not limited to Trojan, BONKbot, Maestro and Banana Gun, made up to 41% of the total dApp revenue with $67 million.”

The report also states that well-known DEXs like Uniswap, PancakeSwap, and Aerodrome also made revenues of $16 million, 10 million, and 9 million US dollars, respectively. In total, more than $100 million in revenue was generated from DEXs and trading bots in fees, which depicts that users prefer dApps for trading-related applications.

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Trading Bots and DEXs Lead the Charge in October

Dapps Achieve Remarkable Revenue Milestone of $164 Million in October 2024

 

In addition, the research also states that already existing decentralized exchanges such as Uniswap, PancakeSwap, and Aerodrome earned $16 million, $10 million, and $9 million, respectively. All in all, the gross fees generated by DEXs and trading bots went over the $100 million mark.

Although the revenues of dApps have grown tremendously, the Binance Research report questions whether there is an overvaluation of the funding towards infrastructure projects, especially layer-1 and layer-2 blockchains. These infrastructure projects have garnered over $1.2 billion in funds since December 2019, which is higher than all the funds used to develop DeFi applications, tools, and gaming products.

Infrastructure Projects Under Scrutiny: Are Layer-1 and Layer-2 Initiatives Overfunded?

Even though the report acknowledges the importance of infrastructure investments for the sustaining investment blockchain ecosystem, it argues that new applications that seek a product-market fit are super important in onboarding new users and increasing overall engagement in the industry.

This viewpoint shows that there is a scope for reconsideration of the funding approaches in the case of blockchain projects, especially for the projects that are now beginning to show huge revenue margins like dApps.

Revenue Signals a Promising Future for Decentralized Applications

According to the analysis conducted by Binance Research, there is a paradigm shift for decentralized applications in the blockchain ecosystem. With dApps gaining widespread popularity and attracting a huge revenue base, they are likely to contend with traditional infrastructure projects for the share of revenue generation. This situation may result in a loss of resources and investments in old infrastructure projects and a focus on revenue-making dApp projects to fulfill user needs.

In addition, considering the rise in usage of dApps by the users, it is expected more innovations to be seen in this space. The continued advancement of decentralized finance and other such applications is likely to enhance the availability and effectiveness of financial services offered.

Stay connected with TurkishNY Radio by following us on Twitter and LinkedIn, and join our Telegram channel for more news.

Tags: BinanceblockchainDAppsmeme coinTron
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