DeFi total protocol fees in August decreased by 24% compared to July
According to data from The Block, the cumulative cost of decentralized finance (DeFi) in August was only $288.88 million, significantly lower than the $381.45 million in July, and a 41% decline compared to the peak of $494.14 million in March 2024.
Among them, Lido ranked first with $76.18 million, followed by Uniswap, Jito, and PancakeSwap. Independent market researcher Nick Ruck said:
As the annualized rate of return (APR) from liquidity re staking token (LRT) strategies has gradually disappeared in recent months, more traders have turned to memes, and the sustainable returns that users can find in DeFi protocols are decreasing. DeFi protocols have recently lacked any major innovations, Uniswap is still preparing to launch V4, and new versions of other protocols such as Euler and Bunni are still under development
At the same time, DeFi's total revenue in August also decreased by 19.7%, from $74.15 million in July to $59.53 million. The monthly DeFi revenue in August also reached its lowest point since February.
