By
the
numbers:
Tether’s
USDT
and
Circle’s
USDC
stablecoins
have
produced
$93
million
and
$28
million
in
revenue,
respectively,
in
the
last
seven
days,
according
to
DefiLlama
data,
while
the
Ethereum,
Tron
and
Solana
networks
saw
$19
million,
$11
million
and
$9.6
million.
Solana-based
protocols
and
trading
bots,
meanwhile,
are
right
behind.
Trading
bot
platform
Photon
and
memecoin
powerhouse
pump.fun
have
both
generated
over
$6
million
in
the
last
seven
days,
exceeding
Ethereum-based
decentralized
finance,
or
DeFi,
heavyweights
such
as
Maker,
Lido
or
Aave
in
terms
of
revenue.
Most
of
this
is
thanks
to
memecoins
—
joke
cryptocurrencies
that
don’t
pretend
to
have
any
utility
and
tend
to
be
very
volatile.
Pump.fun,
a
Solana-based
protocol
that
allows
users
to
easily
create
new
tokens,
has
made
the
network
a
central
hub
for
memecoin
trading
activity.
Over
3
million
coins
have
been
launched
on
pump.fun
since
the
protocol
went
live
in
January
2024,
Coinbase
said.