https://preview.redd.it/l5golhpjl3bf1.png?width=1254&format=png&auto=webp&s=d577dc42e2c49857759725588b8d879c37203f87

https://preview.redd.it/7uqp82ill3bf1.png?width=1266&format=png&auto=webp&s=48881bb1eb3de7852369b097996bba4491486fbd

High Classes by Income

Stablecoin Issuers lead by an order of magnitude, representing over 65% of complete onchain income among the many prime classes. Buying and selling-related classes (DEXs, Launchpads, Buying and selling Apps, Telegram Bots, Derivatives, DEX Aggregators) collectively account for a big share, collectively, these channels generate practically $4B annualized, exhibiting simply how a lot hypothesis and liquidity provisioning nonetheless dominate crypto economics. This class can also be extremely influenced by tendencies: we’ve seen segments like Telegram bots and launchpads surge quickly in income, solely to lose momentum simply as shortly when the narrative fades. Wallets have emerged as a significant income line too (~$630M annualized), exhibiting how chain progress can straight enhance pockets traction, identical to Phantom’s rise with Solana’s resurgence. Lending, whereas smaller in absolute phrases, continues to be probably the most constant income sources onchain. With round ~$150M annualized, lending exhibits how regular borrowing demand and capital effectivity preserve this class related and its progress potential stays excessive contemplating extra stablecoins will transfer onchain and customers preserve in search of passive yield alternatives.

Supply: https://sealaunch.substack.com/p/money-never-sleeps-where-cryptos Charts: https://dune.com/sealaunch/onchain-revenue-crypto