The smartest business in crypto right now is to issue a stablecoin and sit on the reserves
A week on DeFiLlama, by revenue:
- Tether $121.23 million
- Circle $48.11 million
- Hyperliquid $14.18 million
And it was a weak week: DEXs were down about 11%.
Tether’s revenue, though, fell just 1.71%
because it comes from interest on T-bills and repos backing every USDT, not trading fees.
Circle also gives up 59 cents of every dollar in revenue to distribution and transactions—and still comes in second.
I’m on the other side of the setup: I keep my USDT and USDC separate in Simple Earn Flexible. The issuer makes money on them, and I earn a little too. How much of that gravy trickles down to me is another question)
I’m keeping an eye on the daily figure: $17.26 million for Tether in a single day. If it starts sliding along with supply, then that’ll be news.
#Tether #Stablecoins
A week on DeFiLlama, by revenue:
- Tether $121.23 million
- Circle $48.11 million
- Hyperliquid $14.18 million
And it was a weak week: DEXs were down about 11%.
Tether’s revenue, though, fell just 1.71%
because it comes from interest on T-bills and repos backing every USDT, not trading fees.
Circle also gives up 59 cents of every dollar in revenue to distribution and transactions—and still comes in second.
I’m on the other side of the setup: I keep my USDT and USDC separate in Simple Earn Flexible. The issuer makes money on them, and I earn a little too. How much of that gravy trickles down to me is another question)
I’m keeping an eye on the daily figure: $17.26 million for Tether in a single day. If it starts sliding along with supply, then that’ll be news.
#Tether #Stablecoins
