In March, DeFi revenue saw a significant drop across the board, with only MakerDAO experiencing growth

BlockBeats News, April 6th, according to The Block, the majority of mainstream DeFi protocols on Solana, Ethereum, and BNB Chain saw a more than 50% month-over-month decline in revenue in March, reflecting an overall slowdown in on-chain activity and transaction volume. Solana protocols generated a total revenue of approximately $42 million, a 55% decrease compared to the previous month; PancakeSwap on the BNB Chain saw revenue of $21 million, a 54% decrease; Ethereum-based protocols such as Ethena, Lido, Aave, among others, had a total revenue of $24.5 million, dropping over 52%.

The only protocol that saw growth was MakerDAO (now known as Sky), with March revenue reaching $10 million, an 11% increase compared to the previous month. DeFi tokens also showed weakness, with GMCI's GMDEFI index already down 40% year-to-date.