PANews reported on January 3rd, according to Cryptoslate, that DeFiLlama's data shows that the on-chain revenue of the cryptocurrency industry in December 2024 is quite considerable, with stablecoin issuers occupying the largest share. These issuers collectively earned over $664 million, accounting for more than 40% of the total revenue of $1.5 billion generated by crypto protocols.
As the issuer of the USDT stablecoin, Tether has become the largest contributor, with revenue reaching $532.1 million. Following closely is USDC issuer Circle, with revenue of $132.77 million. These two issuers jointly dominate the stablecoin space, accounting for nearly 90% of the market share, which is valued at over $200 billion.