I was chatting with a friend about DeFi when he asked me: “With so many protocols, who’s actually making money?” So I sent him this 24-hour leaderboard (only protocols with tokens tradable on Binance):
1) $HYPE Hyperliquid | $2.07 million
2) $PUMP Pump | $1.51 million
3) $SKY Sky | $435,000
4) AERO Aero | $373,000
5) WLFI World Liberty Financial | $363,000
After looking at it, he said: “Hyperliquid takes in that much?” — $2.07 million. I added: the revenue on the leaderboard is the portion retained by the protocol, not trading volume, and it doesn’t necessarily mean money is distributed to token holders.
Then he asked: “So, is the top-ranked coin worth buying?” I said that’s hard to say: you need to compare it with its current market cap to see if it’s overpriced, and also check whether any revenue actually makes its way back to token holders.
After hearing that, he said: “I’ll save this for now and take another look later.”
Would you buy into this?
1) $HYPE Hyperliquid | $2.07 million
2) $PUMP Pump | $1.51 million
3) $SKY Sky | $435,000
4) AERO Aero | $373,000
5) WLFI World Liberty Financial | $363,000
After looking at it, he said: “Hyperliquid takes in that much?” — $2.07 million. I added: the revenue on the leaderboard is the portion retained by the protocol, not trading volume, and it doesn’t necessarily mean money is distributed to token holders.
Then he asked: “So, is the top-ranked coin worth buying?” I said that’s hard to say: you need to compare it with its current market cap to see if it’s overpriced, and also check whether any revenue actually makes its way back to token holders.
After hearing that, he said: “I’ll save this for now and take another look later.”
Would you buy into this?
