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Ethereum Tops Daily DeFi Fee Activity
Ethereum recorded the highest 24-hour fee activity among major blockchain networks, according to weekly data compiled by DeFiLlama on Oct. 9. The network generated $18.5 million in daily fees, while its recent concentration ratio stood at 1.5 times, the highest among eight tracked chains.
The concentration ratio compares recent daily activity with the average daily level over the past 30 days, showing whether activity has recently accelerated. Solana recorded the highest 30-day fee total at $512.6 million, but its recent concentration ratio was 0.9 times, indicating less short-term acceleration.
Stablecoin Issuers Remain the Biggest Fee Generators
Stablecoin issuers continued to dominate the weekly fee rankings. Tether ranked first, recording $121.3 million in both seven-day fees and revenue, down just 1% from the previous week.
Circle’s USDC recorded $42.1 million in seven-day fees, a 17% decline from the previous week. In the ranking, fees refer to the total amount paid by users, while revenue represents the portion going to the protocol and token holders.
Among decentralized applications, Solana-based decentralized exchange PumpSwap generated $31 million in fees but recorded $3.8 million in revenue. Prediction market Polymarket US and Uniswap V4 each recorded significant fee activity but reported zero revenue under the tracked metric.
Derivative and Real-World Asset Projects Show Growth
Several projects saw increased weekly fee activity. Hyperliquid Perps, a derivatives platform on the Hyperliquid L1 network, recorded $18.8 million in fees, up 10% from the previous week. Launchpad service Flap sh recorded $9.6 million, up 13%, while lending protocol Aave V3 rose 7% to $9.3 million.
Among fast-growing projects, GMX Solana and Ondo Yield Assets both reached $1.6 million in weekly fees. GMX Solana, a derivatives protocol on the Solana network, increased 52% from $1.1 million, while Ondo Yield Assets, focused on real-world assets across Ethereum and Solana, rose 51%.
Two real-world asset projects entered the growth rankings. Centrifuge Protocol, operating on Ethereum and Avalanche, increased from negative fee figures in the previous period to $998,000. Securitize Tokenized AAA CLO Fund, operating on Ethereum and Solana, reached $277,000.
Rapid Growth Does Not Guarantee Stability
Grove Finance recorded the largest percentage increase among tracked projects, with fees rising from $8,000 to $873,000, a 112.8-fold increase. Other notable increases included Base-based Venice, LI.FI DEX Aggregator, Beezie in the physical trading card category, and ADI-chain prediction market PredictStreet.
The data highlights emerging activity across decentralized finance sectors, including derivatives, launchpads, lending, and tokenized real-world assets. However, sharp fee increases alone do not indicate project safety or long-term sustainability, particularly for newer projects with highly variable activity.
The figures are based on publicly available DeFiLlama data and are not investment recommendations.
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