📊 Want to see the real DEX rankings? Forget the narrative, look at the transaction fees. Below is a ranking of DEX transaction fees for the past 30 days compiled by DefiLlama (Only $1M+ fees are counted) 👇 1️⃣ @MeteoraAG (DAMM V2) — $69.11M 2️⃣ @Pumpfun (PumpSwap) — $65.67M 3️⃣ @Uniswap — $46.02M 4️⃣ @MeteoraAG (DLMM) — $31.24M 5️⃣ @Raydium — $13.08M 6️⃣ @PancakeSwap (AMM V3) — $9.17M 7️⃣ @AerodromeFi — $6.53M 8️⃣ @CurveFinance — $5.36M 9️⃣ @orca_so — $5.35M 🔟 @HyperliquidX (Spot Order Book) — $2.15M 11️⃣ @THORChain — $2.14M 12️⃣ @PancakeSwap (AMM) — $2.12M 13️⃣ @QuickswapDEX — $2.05M 14️⃣ @prjx_hl — $1.49M 15️⃣ @BlackholeDEX — $1.08M 16️⃣ @PancakeSwap (Infinity) — $1.01M 💡 Conclusion in one sentence: Transaction fees = Real users + Real transactions + Real cash flow. Who's making money is obvious. The presence of Solana-based, Base-based, and new AMM/Orderbook platforms is already very clear.