Revenues of most DeFi protocols on Solana, Ethereum, and BNB Chain fell by more than 50% in March

PANews reported on April 5 that according to Theblock, revenues of most major DeFi protocols on Solana, Ethereum, and BNB Chain fell by more than 50% in March, reflecting a general decline in on-chain activity and transaction volumes.

Solana-based DeFi protocols, including Pump.fun, Jito, and Raydium, generated a cumulative revenue of approximately $42 million in March. This is down about 55% from February and about 75% from the all-time high in January. On BNB Chain, Pancakeswap generated only $21 million in revenue in March, down 54% month-over-month. Meanwhile, Ethereum-based DeFi protocols include Ethena, Lido, Aave, Curve, Compound, and Sushi. This group of protocols generated a cumulative revenue of only $24.5 million in March, down 52% and more than 65% since February and January, respectively. MakerDAO (now known as Sky) saw a month-over-month increase in revenue, with $10 million in revenue in March, an increase of 11%. MakerDAO (Sky) is the only protocol of the 11 protocols mentioned so far to have a month-over-month increase in revenue.