Papertrade trading hype cools down: daily revenue down 83% MoM, trading volume down 43% MoM

According to DefiLlama data on October 18, Papertrade's revenue on October 17 fell 83% month-over-month to $890,000, ranking 7th among all protocols; the platform had previously surpassed Circle to briefly hold the second spot network-wide. Separately, according to Papertrade's official data, calculated by UTC calendar day, the platform's trading volume on October 17 was approximately $54.230 billion, down 43% from $96.520 billion on October 16 and down 90% from its peak of $564.230 billion on October 10. Meanwhile, the number of transactions and new accounts also declined in tandem: on October 17, there were 135,227 transactions, down 40% from 226,541 the previous day; new accounts totaled 622, down 53% from 1,322 the previous day.