Tether and Circle Lead April Crypto Revenue Rankings
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Tether solidified its position as the top revenue-generating blockchain project in April 2025, amassing $556 million in monthly revenue with 18 million active users. Circle followed closely with $191 million, as reported by Phoenix Group.
Emerging platforms like Pump.fun and Bullx outperformed expectations, generating substantial revenues despite lower mainstream adoption. High TVL tokens such as GMX and CB Wallet demonstrated strong value retention, even with limited address activity.
The stablecoin duopoly continues to dominate crypto’s financial infrastructure, with Tether’s monthly earnings nearly tripling Circle’s. Revenue concentration among top projects highlights the maturing landscape of blockchain monetization.
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