Crypto fees hit September record of $2.41B over 30 days, led by stablecoin issuers
- —Tether earned $501M in 30-day fees from USDT reserve yields
- —Uniswap collected $208.23M in swap fees across 49 chains
- —Circle generated $206.07M from USDC backing yield and CCTP transfers
- —Pump.fun ranked fourth with $155.44M in 30-day fees
Why it matters: Reserve yield on stablecoins now out-earns DEX trading fees, shifting crypto's profit center from exchanges to stablecoin issuers.
Source: NullTX