31 protocols generated more than $10M in 30d fee.

The interesting part is where that fee is coming from.
> @HyperliquidX: derivatives
> @Aave: lending
> @Polymarket: prediction markets
> @Pumpfun: launchpads
> @JupiterExchange: trading infrastructure
> @PancakeSwap: exchange activity
Different products.
Same outcome.
Users continue paying.
While token prices have spent weeks chopping, these sectors continue monetizing behavior that persists across market environments.
Traders still need leverage.
Capital still needs to be borrowed.
People still speculate on outcomes.
New assets still need distribution.
That creates a useful filter.
Price tells you where attention is.
Fee tells you where users are finding enough value to pay.
The sectors generating fees today are often the sectors building the strongest flywheels underneath the surface.
Narratives rotate.
Revenue compounds.