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DefiLlama Newsletter – Protocol Revenue Insights in Bear Market
The newsletter analyzes revenue performance of 227 DeFi protocols during Bitcoin and DEX volume downturns (Oct 2025‑May/July 2026), highlighting protocols that remained resilient such as reserve‑yield issuers, Chainlink, physical TCGs, RWAs, and prediction markets. Median revenue fell ~‑62%‑‑65%, but some saw revenue spikes on BTC crashes. It also notes crypto card market growth, with September card payment volume near $900M and RedotPay leading. Includes links to the full analysis, a crypto card comparison dashboard, and calls to schedule analyst calls.