When big money researches DeFi, there’s one number it can’t ignore: protocol revenue. Here’s the 24-hour ranking (only protocols whose tokens are tradable on Binance):
$HYPE Hyperliquid | $2.18 million
$PUMP Pump | $2.12 million
$SKY Sky | $437,000
WLFI World Liberty Financial | $401,000
CRV Curve Finance | $316,000
The logic is simple: revenue can be compared with market cap, and is harder to inflate with subsidies than TVL. $HYPE ranks first this time ($2.18 million), but you’ll have to judge for yourself whether its valuation is expensive by looking at its circulating market cap and how revenue is distributed.
Another thing to watch is the token release schedule: even with high revenue, ongoing token unlocks can create selling pressure and dilute the impact of that revenue. These are just parts of a research framework—the judgment is up to you. Cast your vote in the comments: bullish or bearish?
#HYPE
Just chatting—don’t take this as investment advice.
$HYPE Hyperliquid | $2.18 million
$PUMP Pump | $2.12 million
$SKY Sky | $437,000
WLFI World Liberty Financial | $401,000
CRV Curve Finance | $316,000
The logic is simple: revenue can be compared with market cap, and is harder to inflate with subsidies than TVL. $HYPE ranks first this time ($2.18 million), but you’ll have to judge for yourself whether its valuation is expensive by looking at its circulating market cap and how revenue is distributed.
Another thing to watch is the token release schedule: even with high revenue, ongoing token unlocks can create selling pressure and dilute the impact of that revenue. These are just parts of a research framework—the judgment is up to you. Cast your vote in the comments: bullish or bearish?
#HYPE
Just chatting—don’t take this as investment advice.