The 10 highest-grossing crypto protocols generated $1.2 billion in revenue during the 30 days ending Aug. 28, representing a 9.3% increase from the previous month’s total of $1.1 billion per DefiLlama data.

Ethena led the percentage gains with a 243% revenue surge, jumping from $9.46 million to $32.48 million, as its synthetic dollar USDe captured market share from traditional stablecoins.

The protocol’s revenue expansion of $23 million represented the second-largest absolute increase among tracked applications.

Pump.fun posted the second-highest percentage growth at 79%, with revenue climbing from $22.55 million to $40.39 million.

The Solana-based memecoin launchpad benefited from continued speculation in newly created tokens, generating an additional $17.84 million in monthly fees.

Stablecoin dominance continues

Tether maintained market leadership despite modest 2.9% growth, with revenue rising from $614.79 million to $632.91 million.

The stablecoin issuer’s $18.12 million increase represented the largest absolute gain among protocols, reinforcing its position as the sector’s primary revenue generator.

Circle ranked second with revenue growing 4.5% from $197.59 million to $206.4 million, adding $8.81 million in monthly fees. Combined, the two stablecoin issuers accounted for 70% of total crypto protocol revenue during the tracking period.

Hyperliquid recorded substantial growth with revenue expanding 25.9% from $82.86 million to $104.3 million. The decentralized perpetual exchange captured an additional $21.43 million as trading volumes increased across its platform.

Mixed performance across sectors

Sky Protocol achieved 77.5% revenue growth, rising from $10.1 million to $17.93 million. Jupiter reported 23.5% growth, with revenue increasing from $21.95 million to $27.1 million, driven by activity in the Solana ecosystem.

Tron recorded moderate gains of 11.6%, with revenue climbing from $56.21 million to $62.73 million. Phantom wallet generated $22.82 million, up 9.5% from $20.84 million in the previous period.

Axiom provided the sole negative performance among top protocols, with revenue declining 13.9% from $62.11 million to $53.46 million. The cross-chain infrastructure provider lost $8.65 million in monthly fees, the only one in the group with a negative result.

Revenue growth occurs alongside the broader crypto market recovery, with protocols benefiting from increased user activity and higher fee generation across decentralized finance applications and trading platforms.

Mentioned in this article

French lawmakers have doubled down on their plans for Bitcoin mining by highlighting that the country could generate an annual revenue of up to $150 million from the industry.

In a July 11 bill submitted to the French National Assembly, the lawmakers outlined a five-year pilot program allowing electricity producers to redirect excess power, often wasted during low grid demand, toward Bitcoin mining operations.

According to the lawmakers, data from the Association for the Development of Digital Assets (ADAN) projects that dedicating just one gigawatt of surplus energy could generate between $100 million and $150 million each year.

This revenue could help offset the fixed costs of maintaining France’s nuclear fleet while monetizing energy that would otherwise be sold at a loss.

The bill comes a month after French lawmakers initially urged the government to examine whether Bitcoin mining could absorb the excess power generated from the country’s nuclear plants.

The lawmakers argued that France’s energy grid faces mounting pressure from the growth of intermittent renewables like wind and solar.

They stressed:

“The significant share of [renewable energy sources] in our electricity mix is leading to recurring imbalances on the grid, including episodes of overproduction that force electricity producers to sell at a loss due to a lack of storage facilities. These unutilized surpluses represent an unacceptable economic and energy loss.”

Benefits of Bitcoin mining

To solve this challenge, the French lawmakers are pushing for Bitcoin mining centers to be co-located with nuclear production facilities.

These centers would only activate when there’s excess energy, offering a real-time, flexible method for grid stabilization without affecting consumer supply.

According to them:

“Existing infrastructure, currently underutilized or closed, could accommodate this new infrastructure. Abroad, some former factories or decommissioned power plants have already been transformed into mining farms operating on carbon-free electricity.”

Meanwhile, the legislation highlighted the secondary benefits of Bitcoin mining activities, including heat recovery. The lawmakers noted that the mining rigs can generate significant heat, which can be redirected to district heating systems, greenhouses, or industrial operations.

They also highlighted examples from countries like Finland, where Bitcoin mining heat is used to support agriculture and sustainable infrastructure.

If approved, the pilot would begin immediately and last roughly five years, with oversight from the French Council of State. After six months, a full evaluation report would assess the feasibility of broader adoption.

Meanwhile, this effort places France among a growing group of countries, such as Pakistan, Belarus, and Texas in the US, that are exploring Bitcoin mining as a strategic response to electricity oversupply.

Could someone perhaps provide more material, code samples, or explain more about generating Coinbase transactions? Any information is very helpful, I hope for your help.

I’m also training my Bitcoin core in Regtest mode. Using the “GenerateToAddress” method (for generation block), if you don’t use Coinbase Tx with BIP34 and BIP141 requirements, do you need to set this setting? I found someone saying something about the block version of Arg, is that true?

Thank you very much ^^

PS If I missed the details of my task, I can freely ask and provide all the information I have, a sample of code I have (it’s not working)

update
I have great news, I’ll find a solution and complete this) Thanks for your support. But there is only one question left. I use Object to generate the Tx on the screen. There is a difference from Coinbase Tx generated with Bitcoin Core using GenerateToAddress only in one location, submitting n in the first output. Can someone explain what it is? I’m using a P2WPKH script for the hash address, is this the type? Adding this value everything worked fine, and after broadcasting to Build Block header and full block and node, I succeeded in General Coinbasetx. However, just to fully understand my code, I would like to know what this means “0000000” means, but the name “n” in the field was my own.

Binance says it has suspended an employee for insider trading after launching an investigation that was prompted by a complaint.

In a new announcement, the world’s largest crypto exchange platform by volume says that an employee committed insider trading when working in a development role on its BNB Chain, prior to joining the Binance Wallet team.

Says Binance,

“Leveraging information from his former position as well as his familiarity with on-chain projects, the employee was aware the project was planning a Token Generation Event (TGE) and anticipated it would generate significant community interest. Prior to the project’s public token launch announcement, the staff member used multiple linked wallet addresses to purchase a large volume of the project’s tokens.

Following the announcement, the staff member quickly sold part of his holdings to realize significant profits, while the remaining tokens retained considerable unrealized gains. This behavior constitutes front-running based on non-public information obtained from his previous role and is a clear breach of company policy.”

Binance’s internal audit team uncovered the employee’s wrongdoing after conducting an investigation triggered by a March 23rd complaint. As a result of the preliminary investigation, the employee was “suspended immediately” and may face additional disciplinary action, which could include legal action.

“We will proactively cooperate with the relevant authorities in the employee’s jurisdiction and take appropriate legal action in accordance with applicable laws.”

Binance is also rewarding the four people who submitted information that brought the incident to its attention.

“For those who submitted valid reports via Binance’s official whistleblowing channel (audit@binance.com), we have completed the verification and de-duplication process. As committed, a total reward of $100,000 will be equally distributed.”

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Could you provide the generated code? I’m struggling to generate the P2SH-P2WSH address from the specified redemption script. In reality, there is no key to the witness program. …In this case I just wanted to double check if the generated address and the specified address were the same

Transaction Spec
Private Key 1: 39dc0a9f0b185a2ee56349691f34716e6e0cda06a7f9707742ac113c4e2317bf
Private Key 2: 5077ccd9c558b7d04a81920d38aa11b4a9f9de3b23fab45c3ef28039920fdd6d
Redeem Script (ASM): OP_2 032ff8c5df0bc00fe1ac2319c3b8070d6d1e04cfbf4fedda499ae7b775185ad53b 039bbc8d24f89e5bc44c5b0d1980d6658316a6b2440023117c3c03a4975b04dd56 OP_2 OP_CHECKMULTISIG
Redeem Script (HEX): 5221032ff8c5df0bc00fe1ac2319c3b8070d6d1e04cfbf4fedda499ae7b775185ad53b21039bbc8d24f89e5bc44c5b0d1980d6658316a6b2440023117c3c03a4975b04dd5652ae
Transaction should contain exactly 1 input with:
Outpoint:
Hash: 0000000000000000000000000000000000000000000000000000000000000000
Index: 0
Sequence: 0xffffffff
Transaction should contain exactly 1 output with:
Value: 0.001
Address: 325UUecEQuyrTd28Xs2hvAxdAjHM7XzqVF
Locktime: 0

I’m doing this in Python

# Given Redeem Script (HEX)
redeem_script_hex = "5221032ff8c5df0bc00fe1ac2319c3b8070d6d1e04cfbf4fedda499ae7b775185ad53b21039bbc8d24f89e5bc44c5b0d1980d6658316a6b2440023117c3c03a4975b04dd5652ae"
script_bytes = bytes.fromhex(redeem_script_hex)
sha256_hash = hashlib.sha256(script_bytes).digest()
redeem_script_hash = hashlib.new("ripemd160", sha256_hash).digest()
prefixed_hash = b'\x05' + redeem_script_hash
checksum = hashlib.sha256(hashlib.sha256(prefixed_hash).digest()).digest()(:4)
final_data = prefixed_hash + checksum
address = base58.b58encode(final_data).decode()
print(address)

Putput appears

h-multisig-tx-jatin-2708/python$ python main.py
39C5GaHDocqYVgyCq2TrMfknTL45LPPcKF

But it should come

Address: 325UUecEQuyrTd28Xs2hvAxdAjHM7XzqVF (as given in ques)

Can anyone explain why the addresses are different, as the witness appears to be missing…?

There are three wallets to use to create a Taproot Multisig wallet. All of my work is based on this https://github.com/bitcoin/bitcoin/blob/master/doc/multisig-tutorial.md. The external and internal Xpubs for each are as follows:

Wallet 1 (External + Internal Xpubs)

(11776e3b/86h/1h/0h)tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/0/*
(11776e3b/86h/1h/0h)tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/1/*

Wallet 2 (External + Internal Xpubs)

(fe5187e5/86h/1h/0h)tpubDCqr5GVKeptzMG5QKLu1aQKXFXgF6kMy9dYDQ6Nap6emZ3iziMCeVX1pPjEzA7nTmyZS9NP2KjUsGtEs8jNqFcUTpKxAwXPB3yfbee4RthM/0/*
(fe5187e5/86h/1h/0h)tpubDCqr5GVKeptzMG5QKLu1aQKXFXgF6kMy9dYDQ6Nap6emZ3iziMCeVX1pPjEzA7nTmyZS9NP2KjUsGtEs8jNqFcUTpKxAwXPB3yfbee4RthM/1/*

Wallet 3 (External + Internal Xpubs)

(9f5cbc68/86h/1h/0h)tpubDDQbi15GQjXYxhAysxdEC6VsSFacJ6hgDAJ7oQy4wUs9sfwMQWtcLqLx7GUbBfWyVwUYMEEJtWmxFXmpmjQL8X4cRdgAJ7BcaazuCYq4iCp/0/*
(9f5cbc68/86h/1h/0h)tpubDDQbi15GQjXYxhAysxdEC6VsSFacJ6hgDAJ7oQy4wUs9sfwMQWtcLqLx7GUbBfWyVwUYMEEJtWmxFXmpmjQL8X4cRdgAJ7BcaazuCYq4iCp/1/*

Here is my descriptor:

external_desc="tr(tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/1/*,sortedmulti_a(2,tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/0/*,tpubDCqr5GVKeptzMG5QKLu1aQKXFXgF6kMy9dYDQ6Nap6emZ3iziMCeVX1pPjEzA7nTmyZS9NP2KjUsGtEs8jNqFcUTpKxAwXPB3yfbee4RthM/0/*,tpubDDQbi15GQjXYxhAysxdEC6VsSFacJ6hgDAJ7oQy4wUs9sfwMQWtcLqLx7GUbBfWyVwUYMEEJtWmxFXmpmjQL8X4cRdgAJ7BcaazuCYq4iCp/0/*))#546p4cqh"

For the first discussion of tr Uses and uses the internal Xpub of wallet 1 sortedmulti_a To configure 2-3 using an external one. I’ll call getdescriptorinfo Instructions:

 ./build/src/bitcoin-cli -signet getdescriptorinfo $external_desc
{
  "descriptor": "tr(tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/1/*,sortedmulti_a(2,tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/0/*,tpubDCqr5GVKeptzMG5QKLu1aQKXFXgF6kMy9dYDQ6Nap6emZ3iziMCeVX1pPjEzA7nTmyZS9NP2KjUsGtEs8jNqFcUTpKxAwXPB3yfbee4RthM/0/*,tpubDDQbi15GQjXYxhAysxdEC6VsSFacJ6hgDAJ7oQy4wUs9sfwMQWtcLqLx7GUbBfWyVwUYMEEJtWmxFXmpmjQL8X4cRdgAJ7BcaazuCYq4iCp/0/*))#546p4cqh",
  "checksum": "546p4cqh",
  "isrange": true,
  "issolvable": true,
  "hasprivatekeys": false
}

It then uses that descriptor to construct the descriptor that is used to import JSON into your wallet. This is what I used to create the JSON:

external_desc_sum=$(./build/src/bitcoin-cli -signet getdescriptorinfo $external_desc | jq '.descriptor')
multisig_ext_desc="({\"desc\": $external_desc_sum, \"timestamp\": \"now\"})"

After that I call it importdescriptors New blank wallet way:

./build/src/bitcoin-cli -signet -named createwallet wallet_name="multi_tr" disable_private_keys=true blank=true
./build/src/bitcoin-cli -signet -rpcwallet="multi_tr" importdescriptors "$multisig_ext_desc"
./build/src/bitcoin-cli -signet -rpcwallet="multi_tr" getwalletinfo

The following is the response for the import descriptor:

{
  "name": "multi_tr"
}
(
  {
    "success": true,
    "warnings": (
      "Range not given, using default keypool range"
    )
  }
)

The output from Get Wallet Info is as follows:

{
  "walletname": "multi_tr",
  "walletversion": 169900,
  "format": "sqlite",
  "balance": 0.00000000,
  "unconfirmed_balance": 0.00000000,
  "immature_balance": 0.00000000,
  "txcount": 0,
  "keypoolsize": 0,
  "keypoolsize_hd_internal": 0,
  "paytxfee": 0.00000000,
  "private_keys_enabled": false,
  "avoid_reuse": false,
  "scanning": false,
  "descriptors": true,
  "external_signer": false,
  "blank": true,
  "birthtime": 1739107662,
  "lastprocessedblock": {
    "hash": "0000005ba71046c3e13011955cf5a65c09fc7e945030a3d623dbfef8e7b3dce6",
    "height": 234655
  }
}

After seeing this output I was excited and wanted to generate a new address to fund a multi-sig wallet, but I got an error.

./build/src/bitcoin-cli  -signet -rpcwallet="multi_tr" getnewaddress
error code: -4
error message:
Error: This wallet has no available keys

After searching for a replacement I found it deriveaddresses The method worked in my use case and was able to get some addresses.

./build/src/bitcoin-cli  -signet deriveaddresses "tr(tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/1/*,sortedmulti_a(2,tpubDCTp9moNmiVHK9KS6j6HEyU9duvomZrE87wTNQMkcZktDu89f3yJFATEQovpsT8KwUDWhut5YYd3zNsUYuv6sGHLozsub1AHPoyL7uGW2LT/0/*,tpubDCqr5GVKeptzMG5QKLu1aQKXFXgF6kMy9dYDQ6Nap6emZ3iziMCeVX1pPjEzA7nTmyZS9NP2KjUsGtEs8jNqFcUTpKxAwXPB3yfbee4RthM/0/*,tpubDDQbi15GQjXYxhAysxdEC6VsSFacJ6hgDAJ7oQy4wUs9sfwMQWtcLqLx7GUbBfWyVwUYMEEJtWmxFXmpmjQL8X4cRdgAJ7BcaazuCYq4iCp/0/*))#546p4cqh" "(0,2)"
(
  "tb1pg0p5p2vfqn3stjrrz0ga33m4wudcxmsl4qsuv4csnq5lxfnws3zss5xcvh",
  "tb1p4z6n9hlt2rs9arlaxwkcgpp79803rmle6wty946zwce74u4wnmas4r8etx",
  "tb1pk3nj9xt2aempeys63etmw3zfkj8pya0sr2lcl2spf6xqtjev8zfqkfzg5p"
)

My question is:

• Why the first way generatenewaddress Is it not working?
• is deriveaddresses What is the recommended method for general use? If so, I think you need to save the range of use to generate a new address each time (as using the same range will generate the same address). So if you use the range (0,0), you must use the next time (1,1).

thank you