In response to a report by Binance Analysis, decentralized functions (dApps) represented 12 out of 15 protocols with essentially the most vital revenues in October, amounting to $164 million.
This means rising blockchain adoption, fueled by buying and selling bots and decentralized exchanges.
The report highlighted that dApp interactions have steadily risen in latest months, topping all however three hottest blockchains: Tron, Ethereum, and Solana. Collectively, these three networks raked in $182 million in month-to-month income.
The rising worth captured by dApps signifies a possible takeover by these protocols of the biggest income share at present managed by blockchains.
Hypothesis driving revenues
The report highlighted that DEX and buying and selling bot-related dApps have been the first income mills because of the latest rise in speculative buying and selling of memecoins.
Memecoin launchpad Pump.enjoyable and buying and selling bot Photon, each Solana-based functions, captured $29 million in income final month.
The checklist of dApps with essentially the most vital revenues registered in October contains 4 different buying and selling bots: Trojan, BONKbot, Maestro, and Banana Gun. Along with Photon, these functions netted $67 million in month-to-month income, almost 41% of the whole registered by dApps.
Uniswap registered $16 million in income, adopted by PancakeSwap and Aerodrome’s $10 million and $9 million, respectively.
The mixed price worth collected by DEX and buying and selling bots surpasses $100 million, highlighting that customers desire trading-related dApps.
Except for buying and selling functions, the report additionally listed cash markets Aave and Sky (former Maker), which captured $26 million in charges. Liquid staking protocol Lido wraps up the checklist of 12 dApps with essentially the most vital income in October, with $7 million captured.
Overfunding infrastructure
The report additionally questions if infrastructure tasks, akin to layer-1 and layer-2 blockchains, are overfunded, given charges collected by dApps.
In response to Rootdata, tasks constructing infrastructure within the blockchain trade acquired over $1.2 billion in funding between December 2019 and October 2024. The quantity exceeds the mixed funds pledged to DeFi, tooling, and gaming functions.
Regardless of arguing that these infrastructure investments are important, the report claimed that new functions in search of product-market match are elementary to attracting new customers and boosting the blockchain trade.
