Cash flow

Revenue Trend, ranked

The direction and slope of those fees over the trailing periods the sources publish.

One of the 25 variables in the framework. 251 tokens rated. Scoring pass 18 Sept 2026.

Median
3/10
mean 3.62
Scoring 9 or 10
1
of 251 rated
Composite link
0.86
correlation with total score
Market link
0.27
rank correlation with market cap, n=236
01

What this variable measures

The direction and slope of those fees over the trailing periods the sources publish.

A 10 means revenue is compounding quarter over quarter. A 1 means it has collapsed from an earlier peak.

A large but falling revenue line and a small but doubling one are different assets. The level alone hides that.

02

What the universe says

Across 251 rated tokens the median score on Revenue Trend is 3 of 10 and the mean is 3.62. 1 token scores 9 or 10, and 61 score 2 or below. Hyperliquid leads at 9 of 10.

Revenue Trend correlates 0.86 with the composite score across the universe, which makes it almost the same measurement as overall standing. Tokens that win here tend to win everywhere, so a high score is confirmation rather than an edge.

Against live market capitalisation for the 236 tokens with a matched market row, Revenue Trend carries a rank correlation of 0.27. The market leans this way but does not price it consistently, so the ranking below still contains disagreement worth using.

Revenue Trend and TVL Trend correlate 0.84, so reading both is close to reading one twice. Treat them as a single position on the same question rather than two independent confirmations.

Drift Protocol (DRIFT) scores 8 of 10 on Revenue Trend, 2nd of 251, on a market capitalisation under $500M. That gap between rank on this variable and rank by size is the whole reason to read the table rather than the top ten.

03

Distribution across the universe

21
1
40
2
74
3
46
4
39
5
17
6
9
7
4
8
1
9
0
10

Tokens at each score from 1 to 10. The shape matters: a variable where almost everything clusters at 3 is telling you the whole category fails it, not that one token is unusual.

04

All 251 tokens ranked

Sorted by score on this variable alone, so a token can lead here and rank poorly overall. That disagreement is the useful part: it is where a single-variable screen finds something the composite averages away.

251 crypto tokens ranked by Revenue Trend, scored 1 to 10
#TokenRevenue TrendCompositeMarket capVerdict
1HYPEHyperliquid3 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.9/10193$19.71BHOLD CORE
2WSTETHWrapped Lido Staked ETHLido's wrapped staked ETH, the DeFi collateral standard with about $17.7B TVL and native yield; dominant LST by every metric8/10185$11.76BHOLD CORE
3MKRMaker / Sky$124M Q1 revenue. 2.7x gross P/S (~6.7x net). Buyback allocation cut from 75% to 7.5% of surplus in Mar 2026 to fund a $150M Solvency Reserve. Sky rebrand: about 81% of MKR already upgraded to SKY.8/10177not publishedHOLD CORE
4SUISuiMove-language L1 with best TVL growth trajectory in 2025-2026. Strong DeFi traction but heavy vesting schedule is key risk.8/10146$4.63BHOLD
5DRIFTDrift ProtocolExploited for $286M on 1 April 2026 through a compromised admin key and offline since. TVL fell from about $550M to under $250M. Held roughly 35% of Solana perp DEX volume before the attack.8/10142$14.3MHOLD
6SYRUPMaple FinanceInstitutional 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 2026.7/10168$268.1MHOLD
7UNIUniswapFee switch live on 11+ chains. Protocol revenue $26-61M (P/S 57-73x). V4 on 18 chains, 2500+ hooks. 100M UNI burned but net inflationary (+1.43%/yr). BlackRock entered Feb 2026. a16z holds 41.5-55M UNI. $200M+ insider selling 2025. Unichain TVL $17.8-29.6M (not $532M). SEC safe harbor Apr 2026.7/10167$4.91BHOLD
8COWCoW ProtocolIntent-based batch auction DEX. $87B vol 2025. P/S 3.1x. Net deflationary. Vesting complete.7/10167$82.3MHOLD
9LINKChainlink70% oracle dominance. DTCC Q4 2026. SOC 2 Type 2. $500M/yr treasury sell pressure. 2 ETFs live.7/10165$10.01BHOLD
10ETHFIEther.fi$7.8B TVL on $350M mcap (22x TVL/MC). $50M buyback active. 84% circ. 250M token releases ahead.7/10162$680.1MHOLD
11AEROAerodrome Finance7/10157$794.7MHOLD
12CETUSCetus Protocol7/10147$25.0MHOLD
13SKYSky (formerly Maker)7/10141$1.86BCAUTIOUS HOLD
14ACXAcross Protocol7/10137$30.5MCAUTIOUS HOLD
15GEODGEODNET6/10169$137.0MHOLD
16CBETHCoinbase Wrapped Staked ETH6/10158$484.5MHOLD
17MORPHOMorpho6/10157$1.75BHOLD
18VIRTUALVirtuals Protocol6/10151$502.6MCAUTIOUS HOLD
19LQTYLiquity6/10151$23.3MHOLD
20LDOLido DAO6/10146$353.8MHOLD
21OKBOKB6/10145$2.75BHOLD
22CRVCurve Finance6/10140$552.7MHOLD
23INJInjective6/10139$727.9MCAUTIOUS HOLD
24ENSEthereum Name Service6/10137$269.1MCAUTIOUS HOLD
25NEARNEAR Protocol6/10135$6.64BCAUTIOUS HOLD
26BGBBitget Token6/10135$1.37BCAUTIOUS HOLD
27JTOJito6/10134$263.0MCAUTIOUS HOLD
28AKTAkash Network6/10129$210.6MCAUTIOUS HOLD
29TRXTRON6/10125$31.81BCAUTIOUS HOLD
30MAVMaverick Protocol6/10121$13.1MCAUTIOUS HOLD
31VRTXVertex Protocol6/10121not publishedCAUTIOUS HOLD
32ETHEthereum5/10187$313.17BHOLD CORE
33BTCBitcoin5/10183$1.67THOLD CORE
34SOLSolana5/10170$68.57BHOLD
35AAVEAave5/10156$2.65BHOLD
36BNBBNB5/10144$102.38BHOLD
37GMXGMX5/10143$84.3MHOLD
38ARArweave5/10140$274.9MHOLD
39BANANABanana Gun5/10135$15.5MCAUTIOUS HOLD
40ARBArbitrum5/10134$1.25BCAUTIOUS HOLD
41SAFESafe (formerly Gnosis Safe)5/10132$84.0MCAUTIOUS HOLD
42SNXSynthetix5/10130$137.5MCAUTIOUS HOLD
43OLASOlas (Autonolas)5/10129$13.4MCAUTIOUS HOLD
44GNOGnosis5/10128$316.6MCAUTIOUS HOLD
45TAOBittensor5/10128$3.29BCAUTIOUS HOLD
46RENDERRender Network5/10127$1.05BCAUTIOUS HOLD
47BERABerachain5/10127$76.8MCAUTIOUS HOLD
48LEOUNUS SED LEO5/10126$8.19BCAUTIOUS HOLD
49OPOptimism5/10123$273.9MCAUTIOUS HOLD
50CAKEPancakeSwap5/10123$698.0MCAUTIOUS HOLD
51LPTLivepeer5/10123$82.2MCAUTIOUS HOLD
52GTGateToken5/10123not publishedCAUTIOUS HOLD
53ORCAOrca5/10123$167.2MCAUTIOUS HOLD
54HNTHelium5/10122$97.6MCAUTIOUS HOLD
55GRTThe Graph5/10121$297.6MCAUTIOUS HOLD
56PRIMEEchelon Prime5/10119$14.8MWATCH
57MNDEMarinade5/10119$15.6MWATCH
58KCSKuCoin Token5/10119not publishedWATCH
59WOOWOO Network5/10118$23.6MWATCH
60JOETrader Joe5/10117$17.4MWATCH
61APTAptos5/10116$652.3MWATCH
62SSonic (prev. Fantom)5/10115$154.2MWATCH
63ONDOOndo Finance5/10115$2.27BWATCH
64CFGCentrifuge5/10115not publishedWATCH
65GRASSGrass5/10111$457.9MWATCH
66IOio.net5/10108$63.1MWATCH
67OMMANTRA5/10108$29.1MWATCH
68VELAVela Exchange5/10107not publishedWATCH
69ATHAethir5/10101$132.9MWATCH
70ATOMCosmos5/1096$899.5MPASS
71RETHRocket Pool ETH4/10159$946.8MHOLD
72JUPJupiter4/10151$1.04BHOLD
73FLUIDFluid (Instadapp)4/10145$158.2MCAUTIOUS HOLD
74PAXGPAX Gold4/10141$1.79BHOLD
75KMNOKamino Finance4/10138$214.9MCAUTIOUS HOLD
76RAYRaydium4/10129$670.5MCAUTIOUS HOLD
77LITLighter4/10125$876.5MWATCH
78POLPolygon system Token4/10123$1.08BCAUTIOUS HOLD
79XRPXRP4/10121$90.31BCAUTIOUS HOLD
80VELOVelodrome Finance4/10121$46.1MCAUTIOUS HOLD
81ENAEthena4/10120$3.06BCAUTIOUS HOLD
82TIACelestia4/10120$432.0MCAUTIOUS HOLD
83CHZChiliz4/10120$165.6MCAUTIOUS HOLD
84COMPCompound4/10119$234.1MWATCH
85STXStacks4/10118$697.8MWATCH
86IMXImmutable X4/10117$156.3MWATCH
87STGStargate Finance4/10117$20.1MWATCH
88QNTQuant4/10116$3.53BWATCH
89HBARHedera4/10112$4.09BWATCH
90TNSRTensor4/10112$27.8MWATCH
91FTMFantom4/10111not publishedWATCH
92KNCKyber Network4/10110$28.1MWATCH
93FETFetch.ai (ASI Alliance)4/10109$522.8MWATCH
94DYDXdYdX4/10109$113.2MWATCH
95BICOBiconomy4/10109$20.1MWATCH
96PERPPerpetual Protocol4/10108$2.8MWATCH
97STORJStorj4/10108$12.3MWATCH
98ALCXAlchemix4/10108$6.6MWATCH
99GELGelato4/10107$498.0KWATCH
100SSVSSV Network4/10106$42.1MWATCH
101ZROLayerZero4/10106$850.4MWATCH
102SLNDSolend4/10106not publishedWATCH
103FXSFrax Share4/10105$28.3MWATCH
104QUICKQuickSwap4/10105$7.0MWATCH
105RDNTRadiant Capital4/10104$1.0MWATCH
106RSRReserve Rights4/10104$100.3MWATCH
107SHDWShadow Token4/10103$5.3MWATCH
108TRUTrueFi4/10102$1.1MWATCH
109FILFilecoin4/10101$867.2MWATCH
110SEISei4/10100$457.3MWATCH
111CORECore4/10100$29.2MWATCH
112ACHAlchemy Pay4/1097not publishedPASS
113MXMEXC Token4/1094not publishedPASS
114PROPPropy4/1093$35.2MPASS
115PEAQpeaq4/1088$102.2MPASS
116NOSNosana4/1086$52.5MPASS
117PENDLEPendle Finance3/10160$391.5MHOLD
118AVAXAvalanche3/10138$4.93BCAUTIOUS HOLD
119XMRMonero3/10117$10.41BWATCH
120GNSGains Network3/10116$9.5MWATCH
121KASKaspa3/10114$1.11BWATCH
122ADACardano3/10113$9.57BWATCH
123YFIYearn Finance3/10111$86.4MWATCH
124MATICPolygon (Legacy)3/10110$1.08BWATCH
125XLMStellar3/10108$7.01BWATCH
126EIGENEigenLayer3/10107$226.1MWATCH
127PYTHPyth Network3/10107$557.2MWATCH
128RUNETHORChain3/10106$234.5MPASS
129GTCGitcoin3/10106$15.9MWATCH
130THETATheta Network3/10105$214.2MWATCH
131RPLRocket Pool3/10104$40.8MWATCH
132RONRonin3/10104$49.1MWATCH
133MLNEnzyme (Melon)3/10104not publishedWATCH
134DOTPolkadot3/10103$1.88BWATCH
135CVXConvex Finance3/10103$193.9MWATCH
136KLAYKlaytn3/10103not publishedWATCH
137KSMKusama3/10103$90.6MWATCH
138SCROLLScroll3/10102$4.7MWATCH
139ICPInternet Computer3/10102$1.75BWATCH
140CROCronos3/10102$3.12BWATCH
141APEApeCoin3/10102$146.9MWATCH
142ZECZcash3/10101$22.59BWATCH
143VETVeChain3/10101$692.4MWATCH
144ILVIlluvium3/10101$31.5MWATCH
145MCMerit Circle (Beam)3/10101not publishedWATCH
146GMTSTEPN3/10101$25.0MWATCH
147AUDIOAudius3/10101$22.7MWATCH
148BADGERBadgerDAO3/10100$6.4MWATCH
149USUALUsual Protocol3/1099$23.6MPASS
150API3API33/1099$45.0MPASS
151FLRFlare3/1099$609.8MPASS
152CFXConflux3/1098$265.8MPASS
153NMRNumeraire3/1098$105.4MPASS
154HTHuobi Token3/1098$16.3MPASS
155IOTXIoTeX3/1098$34.2MPASS
156COTICOTI3/1097$39.1MPASS
157SKLSKALE3/1097$26.6MPASS
158REQRequest3/1097$42.8MPASS
159RADRadicle3/1097$19.5MPASS
160ANKRAnkr Network3/1096$46.1MPASS
161POOLPoolTogether3/1096$176.3KPASS
162FLUXFlux3/1096$191.3KPASS
163CTSICartesi3/1096$27.7MPASS
164ZKZKsync3/1095$129.1MPASS
165BALBalancer3/1095$9.1MPASS
166ALPACAAlpaca Finance3/1095$138.7KPASS
167YGGYield Guild Games3/1095$22.5MPASS
168INVInverse Finance3/1095$6.9MPASS
169POLYXPolymesh3/1095$52.9MPASS
170GLMRMoonbeam3/1094$13.9MPASS
171RLCiExec3/1094$61.1MPASS
172STRKStarknet3/1093$366.4MPASS
1731INCH1inch Network3/1093$138.1MPASS
174BONKBonk3/1093$300.8MPASS
175OSMOOsmosis3/1093$26.6MPASS
176FARMHarvest Finance3/1093$5.1MPASS
177MOBILEHelium Mobile3/1092$6.0MPASS
178WWormhole3/1092$93.6MPASS
179MBOXMOBOX3/1092$298.5KPASS
180HOPRHOPR3/1092$8.7MPASS
181ALPHAAlpha Venture DAO3/1091$483.2KPASS
182PONDMarlin3/1091$14.2MPASS
183TRBTellor3/1090$56.4MPASS
184CELRCeler Network3/1090$22.9MPASS
185ALICEMy Neighbor Alice3/1089$16.9MPASS
186HIGHHighstreet3/1088not publishedPASS
187DENTDent3/1088$6.2MPASS
188LEVERLeverFi3/1087not publishedPASS
189GOGGuild of Guardians3/1086$960.1KPASS
190PRCLParcl3/1080$5.5MPASS
191TONToncoin2/10110$4.02BWATCH
192PENGUPudgy Penguins2/10104$535.4MWATCH
193LTCLitecoin2/10102$5.15BWATCH
194DASHDash2/10101$683.9MWATCH
195MINAMina Protocol2/1098$121.4MPASS
196ALGOAlgorand2/1097$1.05BPASS
197CELOCelo2/1094$57.3MPASS
198CKBNervos Network2/1093$61.4MPASS
199SNTStatus2/1092$38.1MPASS
200NANONano2/1090$46.6MPASS
201ETCEthereum Classic2/1090$1.32BPASS
202WLDWorldcoin2/1089$1.96BPASS
203XTZTezos2/1088$336.3MPASS
204FLOKIFLOKI2/1088$257.5MPASS
205SXPSolar2/1088$2.5MPASS
206BLASTBlast2/1087$4.9MPASS
207AGLDAdventure Gold2/1086$18.0MPASS
208CANTOCanto2/1086$2.0MPASS
209EGLDMultiversX (prev. Elrond)2/1085$123.2MPASS
210ROSEOasis Network2/1084$62.0MPASS
211BLURBlur2/1084$55.8MPASS
212FORTHAmpleforth Governance2/1084$3.0MPASS
213MASKMask Network2/1082$45.8MPASS
214BONDBarnBridge2/1082$93.5KPASS
215WAXPWAX2/1081$26.9MPASS
216KAVAKava2/1080$71.7MPASS
217FLOWFlow2/1078$53.4MPASS
218IDEXIDEX2/1077$838.1KPASS
219MANTAManta Network2/1076$31.1MPASS
220AXSAxie Infinity2/1076$207.3MPASS
221BTTBitTorrent2/1076$357.4MPASS
222MCBMCDEX2/1076$8.9MPASS
223SUSHISushiSwap2/1074$66.7MPASS
224RVNRavencoin2/1074$36.1MPASS
225BANDBand Protocol2/1073$40.8MPASS
226MODEMode Network2/1072$666.9KPASS
227RBNRibbon Finance2/1068$1.7MPASS
228MANADecentraland2/1066$197.1MPASS
229SPELLSpell Token2/1063$16.0MPASS
230GALAGala Games2/1053$114.2MPASS
231ORDIORDI1/1096$88.5MPASS
232PEPEPepe1/1092$1.70BPASS
233DOGEDogecoin1/1089$13.83BPASS
234WIFdogwifhat1/1088$227.9MPASS
235LRCLoopring1/1078$13.2MPASS
236IOTAIOTA1/1078$248.2MPASS
237NOTNotcoin1/1073$45.0MPASS
238POPCATPopcat1/1073$46.9MPASS
239SHIBShiba Inu1/1071$3.17BPASS
240NEONeo1/1068$166.5MPASS
241SUPERSuperVerse1/1067$144.5MPASS
242MOVEMovement1/1067$40.6MPASS
243JASMYJasmyCoin1/1067$243.3MPASS
244ZILZilliqa1/1063$64.9MPASS
245DOGSDOGS1/1062$22.6MPASS
246QTUMQtum1/1061$97.7MPASS
247SANDThe Sandbox1/1058$219.2MPASS
248MEMEMemecoin1/1057$36.6MPASS
249NEIRONEIRO1/1056$35.3MPASS
250KDAKadena1/1050$3.0MPASS
251ONEHarmony1/1048$32.9MPASS

Scores come from the research pass dated 18 Sept 2026 and do not move with price. Market capitalisation is from the live snapshot fetched 7 Oct 2026, so the two columns are stamped at different times on purpose.

05

Variables that move with this one

Correlations across all 251 rated tokens. A number near 1 means the two variables are close to the same measurement, which is worth knowing before treating a second high score as independent confirmation of the first.

06

Common questions

Which crypto tokens score highest on revenue trend?
Hyperliquid (HYPE) at 9, Wrapped Lido Staked ETH (WSTETH) at 8, Maker / Sky (MKR) at 8, Sui (SUI) at 8, Drift Protocol (DRIFT) at 8 lead the 251 rated tokens on Revenue Trend, each scored 1 to 10 against the same definition.
What is a good revenue trend score?
The median across the universe is 3 of 10 and the mean is 3.62, so anything at 7 or above sits well inside the top of the distribution. Only 1 of 251 tokens reach 9 or 10.
Does revenue trend affect a token's market cap?
Rank correlation between Revenue Trend and market capitalisation is 0.27 across 236 tokens with live market data. That is a weak relationship, so the market prices it only partly.

Keep reading

Research and analysis, not investment advice. Correlations describe the rated universe at one point in time and are not predictions.