DeFi Revenue Concentration Revealed in Recent Analysis

A recent analysis of the DeFi sector has found that revenue distribution is heavily concentrated among a small number of protocols.

The study, which analyzed data from DefiLlama and compiled by Unfolded, revealed that just 10 protocols account for 87% of all revenue distributed to cryptocurrency holders over the past month.

Hyperliquid led the pack with $53.5 million in distributions, representing 38.4% of the total. EdgeX and Pump.fun followed closely behind with $23.3 million and $22.9 million respectively.

The data suggests that while the DeFi ecosystem is broad, the actual value flowing back to token holders is heavily concentrated.