Dapps generate $164M revenue in October amid adoption
Decentralised applications (dApps) recorded $164 million in revenue in October, indicating increased adoption, as highlighted by a Binance Research report.
The report noted that 12 of the 15 highest-earning protocols were dApps, driven by activity from trading bots and decentralised exchanges (DEXs).
Solana-based dApps, such as the memecoin launchpad Pump.fun and the trading bot Photon, collectively generated $29 million.
Additional trading bots, including Trojan, BONKbot, Maestro, and Banana Gun (CRYPTO:BANANA), contributed a combined $67 million, representing approximately 41% of total dApp revenue for the month.
Uniswap (CRYPTO:UNI) recorded $16 million in revenue, with PancakeSwap (CRYPTO:CAKE) and Aerodrome (CRYPTO:AERO) earning $10 million and $9 million, respectively.
The combined fees collected by DEXs and trading bots exceeded $100 million, indicating user interest in trading-centric dApps.
Other notable contributors included money market platforms like Aave and Sky (previously Maker), which captured $26 million in fees.
Liquid staking protocol Lido also made the list, earning $7 million in revenue.
The report also discussed funding distribution within the blockchain industry.
Data from Rootdata indicated that infrastructure projects, including layer-1 and layer-2 blockchains, received more than $1.2 billion in funding between December 2019 and October 2024.
This amount surpasses the combined funding allocated to DeFi, tooling, and gaming applications.
While the report recognised the importance of infrastructure investments, it noted that “new applications seeking product-market fit are fundamental to attracting new users and supporting the blockchain sector.”
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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