12 of 251 pass
Revenue that is still growing
Which crypto protocols have growing revenue?
Scoring pass 11 Jun 2026. Market snapshot 15 Aug 2026.
Pass
12
5% of 251
Median score
159.5/250
range 125 to 193
Best
193/250
HYPE
Smallest that passes
$31.59B
TRX
01
What this screen asks
Protocol Revenue 7 or better and Revenue Trend 6 or better.
A large but falling revenue line and a small but compounding one are different assets. Reading the level and the direction together is the only way the number means anything.
02
The 12 that pass
Ranked by composite score, not by how far each one clears the filter. A token near the bottom of this table still passes, so read the score column rather than the order alone.
| # | Token | Score | Verdict | Market cap | Thesis |
|---|---|---|---|---|---|
| 1 | HYPEHyperliquid | 193 | HOLD CORE | $12.60B | 3 ETFs live (THYP, BHYP, HYPG, about $253M combined AUM). About $600M annualised revenue after four straight quarterly declines, with builder fees now taking 18% of gross before buybacks. about 32% to 37% DEX perps share, down from roughly 70% in 2025. But closed-source, FCA warning, 22% circ. |
| 2 | WSTETHWrapped Lido Staked ETH | 185 | HOLD CORE | $8.72B | Lido's wrapped staked ETH, the DeFi collateral standard with about $17.7B TVL and native yield; dominant LST by every metric |
| 3 | GEODGEODNET | 169 | HOLD | $84.9M | Revenue not declining: Q2 2026 $2.59M (+48% QoQ). ARR $7.3-9.5M. 80% burn Foundation-controlled (governance, not smart contract). ATH $0.3746 not $0.43. 20K+ stations, 150+ countries. P/S 9.9-14.4x (expensive vs Helium 3.1x). Deflationary crossover approaching post-Jun 2026 halving. |
| 4 | SYRUPMaple Finance | 168 | HOLD | $177.2M | Institutional private-credit leader with a record ~$2B loan book, a Kraken on-chain warehouse (Jun 25) and a Revolut listing (Apr 30, UK/EU). But the 1.6x price-to-fees pitch uses gross fees; the token keeps ~$12-13M revenue, so it trades ~14x. Core Foundation dispute settled in May 2026. |
| 5 | COWCoW Protocol | 167 | HOLD | $58.9M | Intent-based batch auction DEX. $87B vol 2025. P/S 3.1x. Net deflationary. Vesting complete. |
| 6 | ETHFIEther.fi | 162 | HOLD | $436.5M | $7.8B TVL on $350M mcap (22x TVL/MC). $50M buyback active. 84% circ. 250M token releases ahead. |
| 7 | AEROAerodrome Finance | 157 | HOLD | $393.1M | Base's dominant DEX capturing ~60% of chain volume with real fee revenue and veAERO flywheel locking supply |
| 8 | LDOLido DAO | 146 | HOLD | $247.5M | Dominant LST protocol at $21B TVL with real staking revenue; fee switch vote pending but token accrual still weak. |
| 9 | OKBOKB | 145 | HOLD | $2.26B | OKX exchange token. Supply permanently fixed at 21M since the August 2025 burn, with mint and burn functions disabled. |
| 10 | SKYSky (formerly Maker) | 141 | CAUTIOUS HOLD | $1.20B | Validated: DeFi revenue leader ($246M net, P/S 5.4x) but headline '$435M' is gross before $165M SSR payouts. Buybacks slashed 87% until ~Nov 2026. Net inflationary 4.4%/yr. TVL declining $7.5B→$6.0B. S&P B-. #3 stablecoin ($12.9B). Revenue real but token value accrual IMPAIRED. |
| 11 | CRVCurve Finance | 140 | HOLD | $374.2M | 44% of ETH DEX fee revenue is extraordinary. veCRV/Convex lock-in. ATH -96% (not -99.6%, illiquid spike). |
| 12 | TRXTRON | 125 | CAUTIOUS HOLD | $31.59B | USDT settlement network with massive stablecoin volume. Real revenue but Justin Sun legal issues and centralized governance are persistent overhangs. |
Scores come from the research pass dated 11 Jun 2026 and do not move with price. Market capitalisation is from the snapshot fetched 15 Aug 2026.
03
Common questions
- Which crypto protocols have growing revenue?
- 12 of 251 rated tokens pass. Hyperliquid (HYPE), Wrapped Lido Staked ETH (WSTETH), GEODNET (GEOD), Maple Finance (SYRUP), CoW Protocol (COW) lead on composite score.
- How is this screen defined?
- Protocol Revenue 7 or better and Revenue Trend 6 or better. Every variable is scored 1 to 10 against the same definition applied to all 251 rated tokens, and higher is always better.
- Does passing this screen mean a token is a buy?
- No. It means the token clears one filter on fundamentals as recorded at the scoring pass on 11 Jun 2026. 12 tokens pass, which is 5% of the universe, and the range of composite scores inside the set runs from 125 to 193.
Keep reading
Research and analysis, not investment advice. A screen is one filter applied consistently, not a recommendation.