Ethereum and Lido Finance lead in revenue as prices increase
The Ethereum network and Lido Finance, a staking provider, are among the top revenue generators in the world of decentralized finance (DeFi), according to a ranking by data provider Token Terminal. Ethereum ranked first, with a 30-day revenue generation of $370.6 million as of Monday, while Lido Finance came in third with $6.1 million. Tron, Justin Sun’s blockchain network, secured the second place with a 30-day revenue generation of $84.8 million. However, the most noteworthy aspect is not the revenue figure itself, but the fact that both Ethereum and Lido Finance have seen significant growth in revenue over the past month. Among all the best-known DeFi projects, Ethereum and Lido Finance currently have the strongest 30-day trend growth in terms of revenue generation, with increases of 81.9% and 23.8%, respectively.
Looking at the longer-term 180-day period, Ethereum’s dominance becomes even stronger, with a whopping $1 billion in revenue collected. On the 180-day timeframe, Lido Finance ranked sixth with $25.1 million in revenue, just behind projects such as NFT marketplace OpenSea and the decentralized exchange GMX. As of Monday, the total value locked (TVL) on the entire Ethereum network was $27.9 billion, with Lido Finance responsible for almost half of it. Lido Finance, on its end, had a TVL of $13.1 billion, as reported by DefiLlama.
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As of press time on Monday, ETH was up close to 3.2% for the past 24 hours, trading right around the $1,900 level. The price is up 5% in the past week, but remains almost unchanged on a 30-day basis, according to data from CoinGecko.