Ethereum, Lido Finance lead in revenue generation as prices…
- Ethereum and Lido Finance shone as top revenue generators, with Ethereum surpassing $1 billion in revenue.
- Positive price trends were observed for Ethereum, while Lido Finance showed signs of weakening bearish trend.
In the most recent revenue ranking unveiled by Token Terminal, Ethereum [ETH] and Lido Finance [LDO] made their impressive mark as two of the leading revenue generators. Analyzing the data covering the past 30 days, Ethereum triumphed in the top position, accumulating a staggering $374.9 million in revenue. Lido Finance secured the third spot with an impressive revenue of $86.9 million.
Read Ethereum’s [ETH] Price Prediction 2023-24
A look at the cumulative revenue generated over the last 180 days, Ethereum’s dominance was even more evident, as it exceeded the remarkable milestone of $1 billion. While not reaching the same astronomical heights, Lido Finance still showcased a commendable performance. It secured the fifth position with a revenue of approximately $24.9 million.
Furthermore, according to Crypto Fees data, Ethereum’s success extended beyond revenue figures alone. The platform collected over $6.1 million in fees, with a weekly average surpassing $9 million.
Lido and Ethereum contribute to the total TVL
Considering the Decentralized Finance (DeFi) ecosystem, the Total Value Locked (TVL) stood impressively at over $47 billion, as indicated by DefiLlama. Notably, Lido Finance emerged as a significant contributor to this thriving DeFi landscape, accounting for nearly 27% of the total TVL. As of this writing, Lido Finance’s TVL stood at a substantial $12.75 billion, with an encouraging upward trend depicted on the charts.
Furthermore, directing our attention towards Ethereum, a dominant player in the DeFi space, its TVL amounted to approximately $27.4 billion. Lido Finance held a considerable stake in Ethereum’s TVL, contributing over 46% of the total TVL, underscoring its influential presence and impact within the Ethereum ecosystem.
Daily timeframe price trend
While it may not be directly linked to the generated revenue, Ethereum’s price has been experiencing positive trends recently. At the time of writing, ETH was trading at approximately $1,845, exhibiting a modest 1% increase on the daily timeframe.
Moreover, there were indications of a gradual shift toward a bull trend, as evidenced by the movement of its Relative Strength Index (RSI).
Is your portfolio green? Check out the Lido Finance Profit Calculator
In contrast, as indicated by its RSI, Lido Finance’s price movement remained trapped in a bearish trend. However, there were signs of this bearish trend weakening, accompanied by a slight increase in its price. As of this writing, LDO was trading at around $1.9, with a modest gain of over 1% in value.
With prominent positions on the revenue-generating list and positive price movements, both Lido Finance and Ethereum seem favorably positioned.