The decentralized application (DApp) space continued to show impressive revenue growth in Q3 2024, with a range of platforms across various blockchain ecosystems generating millions.
Here’s a closer look at some of the highest-earning DApps this quarter.
Leading the charge is Pump.fun, a Solana-based platform for minting memecoins, which saw record-breaking growth, generating $262 million. In just one quarter, it became the fastest-growing crypto app in history, driven by a surge of over $100 million in early gains.
Closely following is Sky, the rebranded MakerDAO, with $261 million in revenue. Known for its DAI stablecoin, Sky’s core revenue stream comes from lending DAI to users who lock up crypto assets as collateral, making it a pillar in the DeFi sector.
Aerodrome Finance ($AERO) generated $192 million, capitalizing on Coinbase’s push for on-chain adoption. Hosted on Base, now the largest Ethereum Layer 2 by TVL, AERO’s success reflects Base’s expanding ecosystem.
$ENA Comes Fourth Ahead Of $LDO
Ethena Finance ($ENA) takes fourth place with $112 million. This Ethereum-based protocol saw a boost thanks to its USDe stablecoin, alongside growing interest in its governance token, ENA.
If you are in Crypto, You must know about these highest revenue-generating DAPPs.
1/10: https://t.co/HiddAldQc3 – $262M in Q3 2024
Pump fun is a memecoin minting platform on Solana (SOL) that became the fastest-growing crypto app in history after raking in over $100 million. pic.twitter.com/SatfxAbZEB— TraderFoxy 𝕏 (@TraderFoxyYT) November 9, 2024
Lido Finance ($LDO) brought in $93 million by making Ethereum staking more accessible, pioneering liquid staking for users deterred by high staking requirements.
Other notable performers include Solana DEXs like Jupiter and Raydium, which earned $75 million and $62 million, respectively, fueled by Solana’s rising popularity and a memecoin boom.
Additional contributors to Q3’s impressive numbers were Aave ($70 million), the BNB Chain’s Pancake Swap ($49 million), and Optimism-based Velodrome Finance ($22 million), highlighting the diversity and growth across different DeFi ecosystems and blockchain platforms.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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