@lananh891
Top 10 Crypto Protocols & Products by Total Revenue in 2025
The last year clearly separated hype from real cash flow. Stablecoin issuers, trading platforms, and core crypto products captured the majority of on-chain revenue, with Tether $USDT and Circle $USDC dominating thanks to yield on reserves, while Hyperliquid $HYPE and Pump.fun $PUMP followed closely behind.