- Ethereum and Lido Finance shined as the top revenue generators, with Ethereum exceeding $1 billion in revenue.
- Positive price trends were observed for Ethereum, while Lido Finance showed signs of a weakening bearish trend.
In the most recent revenue ranking revealed by Token terminalEtherium [ETH] and Lido Finance [LDO] have made their impressive mark as two of the leading revenue generators. Analyzing the data from the last 30 days, Ethereum prevailed in the top spot, with a whopping $374.9 million in revenue. Lido Finance took third place with an impressive revenue of $86.9 million.
Read Ethereum’s [ETH] Price Forecast 2023-24
Looking at the cumulative revenue generated over the past 180 days, Ethereum’s dominance was even more apparent as it crossed the remarkable $1 billion milestone. Although Lido Finance did not reach the same astronomical heights, it still showed a commendable performance. It secured the fifth position with revenues of approximately $24.9 million.
Furthermore, according to Crypto charges data, Ethereum’s success extended beyond just revenue numbers. The platform collected over $6.1 million in fees, with a weekly average of over $9 million.
Lido and Ethereum contribute to the total TVL
Considering the Decentralized Finance (DeFi) ecosystem, the Total Value Locked (TVL) impressively stood at over $47 billion, as indicated by Defillama. Notably, Lido Finance emerged as a major contributor to this thriving DeFi landscape, accounting for nearly 27% of the total TVL. At the time of writing, Lido is Finance’s TVL stood at a substantial $12.75 billion, with an encouraging upward trend depicted on the charts.
In addition, we turn our attention to Ethereum, a dominant player in the DeFi space, the TVL was about $27.4 billion. Lido Finance held a significant stake in Ethereum’s TVL, contributing more than 46% to the total TVL, underlining its influential presence and impact within the Ethereum ecosystem.
Daily time frame price trend
While it may not be directly linked to the revenue generated, the price of Ethereum has been experiencing positive trends recently. At the time of writing, ETH was trading at around USD 1,845, up a modest 1% over the daily time frame.
In addition, there was evidence of a gradual shift to a bull trend, as evidenced by the movement of the Relative Strength Index (RSI).
Source: TradingView
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In contrast, as indicated by the RSI, Lido Finance’s price movement remained caught in a bearish trend. However, there were signs that this bearish trend was fading accompanied by a slight increase in the price. At the time of writing, LDO was trading around $1.9, with a modest gain of over 1% in value.
Source: TradingView
With prominent positions on the revenue generating list and positive price movements, both Lido Finance and Ethereum appear favorably positioned.
