Most Crypto Projects Earn Under $1,000 Per Month, Study Finds

Despite high valuations, a new study by 5Money and Storible reveals that the majority of crypto projects are not generating substantial revenue, with 85% earning under $1,000 per month.

The analysis of 4,928 crypto projects also finds that 95% of decentralized finance (DeFi) projects make less than $1,000 a month in revenue. Surprisingly, even 86% of billion-dollar projects fail to cross this seemingly modest threshold.

However, top-performing crypto projects buck the trend, with platforms like Pump.fun achieving $100 million per month in revenue within just 10 months.

Financial Bubble

These findings underscore a disconnect between market valuations and actual revenue. With crypto projects reaching $500 million in annual revenue twice as fast as traditional tech, the study raises questions about whether the industry is heading for a financial bubble.

The study also challenges the common notion that a token is necessary for success, citing MetaMask, Phantom, and Photon, which all have generated significant revenue without relying on a token launch.

The global cryptocurrency market cap currently stands at $2.82 trillion, according to CoinGecko. Meanwhile, the total value locked (TVL) in the DeFi space is $96 billion, DeFiLlama data shows.