PANews reports on April 5th that according to The Block, most major DeFi protocols on Solana, Ethereum, and BNB Chain saw their revenues drop by over 50% in March, reflecting a general decline in on-chain activity and trading volume.

DeFi protocols based on Solana (including Pump.fun, Jito, and Raydium) generated approximately $42 million in revenue in March, a decrease of about 55% compared to February and about 75% from the historical high in January. On BNB Chain, PancakeSwap generated only $21 million in revenue in March, a quarter-on-quarter decline of 54%. Meanwhile, Ethereum-based DeFi protocols including Ethena, Lido, Aave, Curve, Compound, and Sushi collectively generated only $24.5 million in revenue in March, a decrease of over 52% and 65% from February and January, respectively. MakerDAO (now called Sky) saw its revenue increase quarter-on-quarter, reaching $10 million in March, a growth of 11%. MakerDAO (Sky) is the only protocol among the 11 mentioned that saw a quarter-on-quarter increase in revenue.