当加密应用程序成为新的摇滚明星时，超流动性（HYPE）排名第一

Crypto不再只是在您的数字钱包中hodling比特币，而是一个完整的竞技场，应用程序是新的摇滚明星。

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Crypto’s no longer just about holding Bitcoin in your digital wallet—it’s a full-on arena where apps are the new rock stars. Five token-backed apps raked in a cool $95 million in April 2025, according to DeFiLlama. This crypto news came as a positive sign for the larger market.

Crypto不再只是在您的数字钱包中拿着比特币，这是一个全面的竞技场，应用程序是新的摇滚明星。根据Defillama的数据，五个象征支持的应用在2025年4月以凉爽的9500万美元的价格收获。这个加密新闻是对大型市场的积极信号。

These platforms—Hyperliquid (HYPE), Maker/Sky (MKR/SKY), Jupiter (JUP), PancakeSwap (CAKE), and Aerodrome (AERO)—are reshaping how value flows in crypto.

这些平台（Hyperliquid（Hype），Maker/Sky（MKR/Sky），Jupiter（Jup），Pancakeswap（蛋糕）和机场（Aero）（Aero）（Aero）正在重塑加密货币中的价值。

Axiom’s $13.34 million weekly revenue hints at new challengers. This revenue race suggests apps are becoming the heart of crypto’s future, but volatility and strategy changes keep the stakes high.

Axiom的每周收入为1334万美元，这暗示了新的挑战者。这项收入竞赛表明，应用程序已成为加密未来的核心，但是波动和策略的变化使赌注很高。

Investors can track revenue to spot winners, but big spenders like Aerodrome raise questions about sustainability.

投资者可以跟踪收入以发现获奖者，但是像机场这样的大型支出提出了有关可持续性的问题。

Hyperliquid (HYPE) Takes The Top Spot

超流动性（炒作）排名第一

Hyperliquid (HYPE) held the crown with $40.94 million in revenue. Its perpetual market—think futures that never expire—is a trader’s playground. But the champ’s showing wear.

Hyproliquid（Hype）的收入为4094万美元。它的永恒市场 - 想到永不过期的期货 - 是一个商人的游乐场。但是冠军的表现。

Revenue dropped $1.1 million from March, and its Ethereum perps share fell 1%, according to DeFiLlama. That’s still miles ahead of the competition, but it’s a nudge that even giants can stumble when rivals get hungry.

根据Defillama的数据，收入比3月份下降了110万美元，其以太坊PERPS份额下降了1％。在比赛之前，这仍然是几英里的，但是当竞争对手饿时，即使巨人也可能会绊倒。

Maker/Sky (MKR/SKY)

制造商/天空（MKR/天空）

Maker/Sky (MKR/SKY) pulled off a stunner, jumping from fourth to second with $15.76 million. That’s a $2.76 million boost from March.

Maker/Sky（MKR/Sky）脱离了一个震惊者，以1576万美元的价格从第四名到第二。从3月起，这是276万美元的提升。

Its DeFi lending platform, built around stablecoin loans, is clicking with users. The climb shows there’s room for steady players in a market that loves flash. But at less than half Hyperliquid’s haul, Maker/Sky’s got a long road to the top.

它的Defi Lending平台围绕Stablecoin贷款构建，正在与用户点击。攀登表明，在一个热爱Flash的市场中有稳定的球员的空间。但是在不到一半的超级流动性运输量时，Maker/Sky's的路走到了顶部。

Jupiter (JUP)

木星（jup）

Jupiter (JUP) clung to third place, banking $15.17 million. It’s down $4.53 million from March’s $19.70 million—a 23% hit.

木星（jup）紧紧抓住第三名，银行1517万美元。它比3月的1,970万美元下跌了453万美元，命中率为23％。

Yet, it didn’t budge from its podium spot. Why? Its Solana-based liquidity aggregation keeps trades smooth and cheap.

然而，它并没有从领奖台上摆脱困境。为什么？其基于索拉纳的流动性汇总使交易保持平稳和廉价。

PancakeSwap’s bigger fall helped, but Jupiter’s resilience is its own story. Still, that revenue slide needs a fix, or it risks losing ground.

Pancakeswap的更大跌倒有所帮助，但木星的韧性是其自己的故事。尽管如此，该收入幻灯片仍需要修复，否则它可能会失去基础。

PancakeSwap (CAKE) Back in Crypto News Again

pancakeswap（蛋糕）再次回到加密新闻

PancakeSwap (CAKE) took a beating, sliding from second to fourth with $14.44 million. That’s an $8.26 million drop—36% less than March’s $22.70 million.

pancakeswap（蛋糕）击败，以1444万美元的价格从第二至第四。这是一笔826万美元的跌幅，比3月的2270万美元低36％。

Its AMM model, once a DeFi darling, is losing steam. Newer platforms like Aerodrome and Axiom are outpacing it. PancakeSwap’s fall is a wake-up call: innovate or get left behind in crypto’s relentless race.

它的AMM模型曾经是Defi Darling，正在失去蒸汽。诸如机场和公理等较新的平台正在超过它。 Pancakeswap的秋季是一个叫醒电话：创新或落后于加密无情的比赛。

Aerodrome (AERO)

机场（Aero）

Aerodrome (AERO) crashed the top five with $8.57 million, shoving Uniswap aside. But here’s the twist: it spent $15.4 million on incentives, according to Token Terminal data. That’s almost double its revenue.

机场（Aero）以857万美元的价格击中了前五名，将Uniswap推开了。但这是一个转折：根据Token终端数据，它花费了1540万美元用于激励措施。这几乎是其收入的两倍。

The gamble paid off, landing it a spot, but it’s a high-wire act. Aerodrome’s betting users will stick around once the rewards dry up. Risky? Sure. Effective? So far, yes.

赌博取得了回报，使它成为了一个席位，但这是一个高温表演。一旦奖励枯竭，机场的投注用户将坚持下去。冒险？当然。有效的？到目前为止，是的。

Axiom’s Lightning Strike’s Crypto News Space

Axiom的Lightning Strike的加密新闻空间

Axiom didn’t make the monthly top five, but it deserves the spotlight. This Solana DEX pulled in $13.34 million in just seven days.

Axiom并没有将每月的前五名成为前五名，但值得关注。这款Solana Dex在短短七天内就赚了1334万美元。

A February 2025 points program, teasing an airdrop, sent users into a frenzy. That weekly haul outshines Aerodrome’s monthly take and rivals Hyperliquid’s pace. Axiom’s a wildcard, proving new players can shake the board.

2025年2月的积分节目，逗弄了气流，使用户陷入疯狂。每周的牵引力都超过了机场的每月一次，并且与超流动性的步伐相比。 Axiom是一个通配符，证明新球员可以摇晃董事会。

Are Apps Becoming Crypto’s New Core?

应用程序是否成为加密货币的新核心？

This $95 million revenue sprint isn’t just a stat—it’s a signal. Crypto’s value is shifting from blockchains to apps. Hyperliquid’s $40.94 million and Axiom’s $13.34 million weekly dash dwarf what many chains earn. Users want platforms that deliver—whether it’s trading, lending, or liquidity.

这笔9500万美元的收入冲刺不仅是一个统计数据，而且是一个信号。加密价值正在从区块链转移到应用程序。 Hyperliquid的4094万美元和Axiom的每周少数连锁店的收入为1334万美元。用户想要提供的平台 - 无论是交易，贷款还是流动性。

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handles market-making activities in the Hyperliquid ecosystem. It is responsible for providing liquidity to the platform’s perpetual futures market and ensuring efficient price discovery. The MH stips are paid to the protocol in order to fund these operations and keep the platform running smoothly.

处理超流动生态系统中的营销活动。它负责为该平台永久期货市场提供流动性，并确保有效的价格发现。 MH Stips已支付给协议，以资助这些操作并保持平台顺利运行。

The stips are collected in the form of HYPE tokens, which are then distributed to liquidity providers

销售以炒作令牌的形式收集，然后将其分配给流动性提供者