🤑Solana Now Boasts Half of All DeFi Revenue
gm Defiers!
Crypto markets dipped on Thursday following cooler-than-expected U.S. wholesale inflation data and cautionary remarks from Fed chair Powell.
Solana now accounts for just over half of all DeFi revenue, fueled by the memecoin craze. Decentralized exchange Meteora raked in more fees than Circle on May 13.
Plus, ETHFI and KAITO rally, XSY launches Unity on Avalanche, and Coinbase partners with Riot Games.
✍️ In today’s newsletter:
- Solana’s share of total dApp revenue has crossed 50%
- EtherFi token doubles after boosting buybacks
- KAITO surges on staking reward speculation
- Fed comments spark crypto selloff
- XSY launches synthetic dollar on Avalanche
- Meteora flips Circle in daily fees
- Coinbase partners with Riot Games
- Americans turn to Bitcoin as safe haven: Survey
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📊Solana Dominates DeFi dApp Revenue
Solana now commands just over 50% of total dApp revenue for all of DeFi. Meanwhile, Ethereum’s fee dominance has plunged to just 12.84%, putting it in a distant second.
🚀Top 3 DeFi Protocol Etherfi’s Token Doubles After Boosting Buybacks
A week after implementing plans to significantly expand the amount of tokens it buys back and distributes to stakers, Ether.fi’s ETHFI token has almost doubled in value.
📈Kaito Rallies 41% as Staked Supply Hits All-Time High
KAITO is one of the strongest-performing tokens in the altcoin market over the last month, boosted by speculation over upcoming features for stakers and continuous buybacks.
📉Crypto Market Dips as Fed Remarks Spark Volatility
Fed Chair Jerome Powell cautioned today that investors might see higher long-term interest rates as economic policies continue to shift.
“We may be entering a period of more frequent, and potentially more persistent, supply shocks – a difficult challenge for the economy and for central banks,” Powell said at a conference.
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DeFi is evolving rapidly and maturing, entering a new phase of adoption and growth. With both established protocols like Aave and new entrants driving innovation in capital efficiency and market design. However, liquidity fragmentation across chains and protocols remains a core limitation, particularly in the lending sector. Soul’s new DeFi primitive addresses this by enabling cross-chain lending coordination, using LayerZero’s messaging infrastructure to allow users to borrow across chains and protocols while keeping collateral in one place. Built by the team behind Hatom, a 2 years old secure and mature lending protocol, Soul aims to become a foundational layer in a new phase of interoperable and composable DeFi.
READ MORE: Solving major DeFi problems: Soul new primitive to finally solve liquidity fragmentation
💵XSY Launches Synthetic USD Stablecoin on Avalanche, Secures $5M in Pre-Series A Funding
Capital management platform XSY has announced the beta release of its flagship Unity (UTY) product on the Avalanche blockchain, alongside the close of a $5 million Pre-Series A funding round.
☄️Meteora Surpasses USDC Issuer Circle in Daily Fees
Meteora is the second highest fee generator across DeFi over the last 24 hours, bringing in $7.6 million in fees, ahead of stablecoin issuer Circle, which earned $6.4 million over the same period.
🎮Gamers Hate Crypto, but a New High-Profile Partnership Marks a Shift
Coinbase announced a partnership with leading game development studio, Riot Games, potentially signaling an olive branch between two leaders in the gaming and crypto industries.
📃Americans Turn to Bitcoin as Safe Haven Amid Trump’s Trade War: Report
A recent survey found that “a remarkable” 68% of the 1,290 Americans surveyed said they purchased Bitcoin (BTC) following Trump’s tariff announcements.
🔥TRENDING
- Ethereum Unveils Trillion Dollar Security Initiative to ‘Bring the World Onchain’
- Believe App Token Soars 900% After Generating $6.3 Million in Daily Revenue
- Bitcoin Holds Above $102,000 as Crypto Markets Pull Back After Rally
- Stocktwits Launches Cryptotwits to Offer Crypto Insights to Over 10 Million Investors
- PumpFun Kicks Off Revenue Sharing
- Aave Tops $40 Billion in Net Deposits, Morpho Surpasses $1 Billion on Base
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