Crypto activity just saw its biggest cooldown in months: chain revenues dropped to $200M in November, with BSC hit hardest after an October spike. App revenues followed—PancakeSwap fell from a top industry earner to a fraction of its October pace. Historically, similar 70%+ revenue drops (like in 2021) have often preceded strong recoveries, with major chains like Ethereum and Solana seeing 2–3x gains within six months.
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Crypto activity just saw its biggest cooldown in months: chain revenues dropped to $200M in November, with BSC hit hardest after an October spike. App revenues followed—PancakeSwap fell from a top industry earner to a fraction of its October pace. Historically, similar 70%+ revenue drops (like in 2021) have often preceded strong recoveries, with major chains like Ethereum and Solana seeing 2–3x gains within six months.