Stablecoin Issuers Lead Cryptocurrency Revenue In December 2024

According to Odaily, data from DeFiLlama reveals that the cryptocurrency sector saw significant on-chain revenue in December 2024, with stablecoin issuers taking the largest share. These issuers collectively earned over $664 million, accounting for more than 40% of the total $1.5 billion generated by crypto protocols. Tether, the issuer of the USDT stablecoin, emerged as the top contributor with a revenue of $532.1 million. Following closely was Circle, the issuer of USDC, with earnings of $132.77 million. Together, these two issuers dominate the stablecoin market, holding nearly 90% of the market share, with a valuation exceeding $200 billion.