Rising cryptocurrency prices tend to get people very excited. That excitement often spills over into protocols noting strong usage increases. The following projects report a substantial revenue increase in the past 24 hours, although sustaining momentum will always be challenging.
It is remarkable to see how Saddle Finance increased its 24-hour revenue by over 855%. Platform users will be happy with this outcome, as the automated market maker with low slippage on Ethereum is gaining momentum. It features various pools for users to contribute liquidity and trade, with $SDL rewards sweetening the deal. The revenue increase comes at a crucial time, as Saddle Finance’s revenue was down by 41.6% in the past 30 days.
Decentralized perpetual exchanges can make a strong impact on the cryptocurrency industry. Cap provides exposure to crypto assets at 0% fees and leverage of up to 50x. Cap supports Bitcoin and Ethereum, and Ethereum and USDC as collateral. Given today’s bullish market momentum, it is normal to see an increase in overall derivatives trading globally. Cap notes a daily 377.3% revenue increase, continuing its strong uptrend over the past month.
The popular cross-chain automated market maker protocol built through the Cosmos SDK has been building momentum in recent months. Cosmos provides an IBC protocol to enable cross-chain liquidity and trading, greatly benefiting projects like Osmosis. Moreover, the platform lets developers build and deploy customized AMMs. A hefty 68.6% daily revenue increase confirms users remain excited about the project. Osmosis has a solid revenue increase this past month.
Decentralized finance, or DeFi, remains one of the most prominent trends in the cryptocurrency and blockchain world. Karura aims to become the DeFi hub for Kusama and offers numerous features for users to explore, including a staking derivative, multi-collateralized stablecoin backed by cross-chain assets, and an AMM DEX. Overall daily revenue for Karura increased by 61%, potentially ending the recent negative monthly trend.
As one of the most popular play-to-earn games, Axie Infinity faced severe struggles in recent months. Its revenue has been on an aggressive decline for multiple months. Today is slightly more promising, thanks to a 54.5% revenue gain. Breaking the 180-day trend of over 32% revenue loss is not easy whatsoever, but things might be looking up once again.
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