41 Crypto Protocols Earned Over $2M in August 2026 — Tether and Circle Outpace the Rest Combined

Forty-one crypto protocols each generated more than $2 million in revenue over the past 30 days, according to DefiLlama data shared by Top 7. Tether topped the list at $482.47 million and Circle followed at $192.5 million — together the two stablecoin issuers pulled in roughly $674.97 million, outpacing the combined $369.07 million earned by the other 39 protocols.

Key takeaways

• Tether generated $482.47M and Circle $192.5M in the trailing 30 days, a combined roughly $675M that beats the other 39 protocols' combined roughly $369M.
• Canton ranked third at $52.05M, but the post notes most of that flow is redistributed back to ecosystem participants rather than retained as protocol income.
• Pump led launchpads with $37.88M, while onchain trading tools GMGN ($21.21M) and Axiom ($16.27M) confirmed themselves as a real revenue vertical.
• Polymarket earned $17.2M, holding its position as the top prediction market by revenue on the list.
• RWA-linked platforms Grayscale ($14.41M), Paxos ($8.58M), Securitize ($2.75M) and Fidelity ($2.48M) all cleared $2M, alongside WLFi crossing $10.73M.

Which Protocols Generated More Than $2M in Revenue Over the Last 30 Days?

The full list, ranked by trailing 30-day revenue as reported by DefiLlama, spans stablecoin issuers, DEXs, launchpads, RWA platforms and prediction markets. Combined, all 41 protocols generated roughly $1.04 billion over the period.

Rank	Protocol	30-Day Revenue
1	Tether	$482.47M
2	Circle	$192.5M
3	Canton	$52.05M
4	Pump	$37.88M
5	Hyperliquid	$32.12M
6	Tron	$27.49M
7	GMGN	$21.21M
8	Polymarket	$17.2M
9	Axiom	$16.27M
10	Grayscale	$14.41M
11	Sky	$13.88M
12	Collector Crypt	$12.56M
13	WLFi	$10.73M
14	fomo	$9.03M
15	Paxos	$8.58M
16	Phantom	$6.02M
17	Flap	$5.47M
18	Uniswap	$5.46M
19	Pons	$5.37M
20	PredictStreet	$5.11M
21	Chainlink	$4.61M
22	PEA	$4.54M
23	Ripple USD	$4.3M
24	DEX Screener	$4.15M
25	Aave	$3.98M
26	Jupiter	$3.81M
27	Aerodrome	$3.79M
28	Robinhood	$3.65M
29	tradeXYZ	$3.61M
30	Pancakeswap	$3.61M
31	Courtyard	$3.08M
32	ether.fi	$2.95M
33	Metamask	$2.76M
34	Securitize	$2.75M
35	FWA	$2.74M
36	ORE	$2.59M
37	Fidelity	$2.48M
38	SLVR	$2.27M
39	Polygon	$2.19M
40	Lido	$2.19M
41	edgeX	$2.18M

Why Do Tether and Circle Outpace 39 Other Protocols Combined?

Tether and Circle sit atop the ranking because stablecoin issuance remains the single largest fee-generating activity in crypto, drawing income from reserve yields and transaction flows across billions of dollars in circulating USDT and USDC. Their combined $674.97 million over 30 days is roughly 1.8 times the $369.07 million earned by all other 39 protocols on the list.

Tether's $482.47 million alone is more than nine times Circle's $192.5 million, underlining how dominant USDT remains as the base settlement asset across exchanges and decentralized finance. No other protocol on the list comes close: the third-largest earner, Canton at $52.05 million, is less than 11% of Tether's figure. This gap illustrates why stablecoin issuers behave less like typical apps and more like infrastructure-layer utilities that capture a fee on nearly every dollar moving through crypto markets.

What Does Canton's $52 Million Revenue Actually Measure?

Protocol revenue is the fee income a decentralized application or blockchain-linked business collects from users over a given period, as tracked by aggregators such as DefiLlama. Canton's $52.05 million places it third on this list, but the post flags that most of that figure is redistributed back to ecosystem participants rather than retained by the protocol itself.

That distinction matters when comparing rankings by raw revenue: a network that passes most of its take through to participants can post a large headline number while its actual retained income is far smaller than Tether's or Circle's. Readers relying on protocol revenue figures from DefiLlama-style dashboards should check whether a metric represents fees kept by the protocol, gross transaction flow, or something in between before drawing conclusions about profitability or long-term sustainability.

Which Sectors Beyond Stablecoins Are Generating Real Revenue?

Beyond stablecoins, launchpads, onchain trading tools, derivatives platforms, prediction markets and RWA issuers all cleared the $2 million threshold, showing revenue generation has broadened well past a single category. Pump led launchpads with $37.88 million, while GMGN ($21.21 million) and Axiom ($16.27 million) confirmed onchain trading tools as a distinct and sizable vertical.

Among perpetuals and DEXs, Hyperliquid generated $32.12 million, Uniswap $5.46 million, Aerodrome $3.79 million and Pancakeswap $3.61 million, while Chainlink's $4.61 million reflects oracle fee revenue paid across integrated chains. The Solana trading stack stayed intact with Phantom ($6.02 million), Jupiter ($3.81 million) and newcomer DEX Screener ($4.15 million). Polymarket held its ground in prediction markets at $17.2 million, roughly matching a mid-tier CeFi player on the list.

RWA-linked platforms kept printing steady numbers: Grayscale ($14.41 million), Paxos ($8.58 million), Securitize ($2.75 million) and Fidelity ($2.48 million) all cleared the threshold, part of a broader RWA trend of traditional finance names generating onchain revenue. WLFi crossing $10.73 million is notable as a signal that DeFi projects with political backing are converting attention into measurable fee income rather than just headlines.

Bottom line

Across all 41 protocols, roughly $1.04 billion in revenue flowed in over 30 days, and stablecoin issuance still accounts for the largest single share by far. Watch whether Canton's gross-flow figure gets reclassified as retained fees mature, and whether onchain trading tools like GMGN and Axiom keep climbing relative to established DEXs — that shift, more than any single ranking, is where this list's next changes are likely to show up.