What are the big players thinking?
The most direct way to see where users are spending is to check the protocol revenue rankings—over the past 24 hours (counting only protocols whose tokens are tradable on Binance):
1. $HYPE Hyperliquid｜$2.18 million
2. $PUMP Pump｜$2.12 million
3. $SKY Sky｜$437,000
4. WLFI World Liberty Financial｜$401,000
5. CRV Curve Finance｜$316,000
Hyperliquid ranked first with $2.18 million in revenue, suggesting that users traded there more than on the other protocols in the ranking during this period. When evaluating projects, large investors often view revenue as a fundamental source of support—but revenue and price structure should be considered together.
One more thing: a sudden surge in revenue often comes with large trades, so that revenue may not be sustainable. Larger investors tend to focus more on the handful of protocols that consistently remain in the rankings.
Historically, DeFi revenue tends to concentrate among a small number of protocols, making it difficult for newcomers to break into the rankings. When a new name appears, it’s worth taking a closer look.
The most direct way to see where users are spending is to check the protocol revenue rankings—over the past 24 hours (counting only protocols whose tokens are tradable on Binance):
1. $HYPE Hyperliquid｜$2.18 million
2. $PUMP Pump｜$2.12 million
3. $SKY Sky｜$437,000
4. WLFI World Liberty Financial｜$401,000
5. CRV Curve Finance｜$316,000
Hyperliquid ranked first with $2.18 million in revenue, suggesting that users traded there more than on the other protocols in the ranking during this period. When evaluating projects, large investors often view revenue as a fundamental source of support—but revenue and price structure should be considered together.
One more thing: a sudden surge in revenue often comes with large trades, so that revenue may not be sustainable. Larger investors tend to focus more on the handful of protocols that consistently remain in the rankings.
Historically, DeFi revenue tends to concentrate among a small number of protocols, making it difficult for newcomers to break into the rankings. When a new name appears, it’s worth taking a closer look.