Data from the CryptoRank platform showed that Tether recorded an impressive 620 million dollars in transaction fees over the last 30 days, outperforming its competitor Circle, which only collected 199 million dollars.
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Key points:
🥇 Tether topped the list by a wide margin, with 620 million dollars in transaction fees.
🥈 Circle came in second with 199 million dollars.
💹 DeFi platforms like PancakeSwap and Uniswap achieved respectable transaction fees of 141 million dollars and 117 million dollars, respectively.
💼 Other platforms like MeteoraAG, Jupiter Exchange, and HyperliquidX achieved fees ranging from 97 to 106 million dollars.
🔒 Staking and trading protocols like Lido Finance and Aave recorded fees of about 76 and 69 million dollars.
🚀 Raydium Protocol generated 62 million dollars, supported by launches and trading of meme coins on the Solana network.
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What does this mean?
These numbers confirm Tether's strong dominance in the stablecoin market and on-chain settlements, benefiting from high trading volume and increasing demand in traditional and decentralized finance markets (CeFi and DeFi).
⚖️ In contrast, Circle, despite its regulatory progress and connections to major payment networks, still lags significantly in on-chain transaction activity.
📈 As decentralized finance continues to grow, these rankings are expected to change with the entry of new protocols and the evolution of trading technologies.
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