An Ethereum block builder briefly claimed the top position on DeFiLlama's 24-hour protocol revenue rankings with $22.83 million, outpacing major stablecoin issuers in a single-day spike driven by increased MEV bot competition on the network.
On October 31, 2026, Titan Builder's $22.83 million in daily revenue exceeded Tether's $16.99 million and Circle's $6.76 million. Titan's haul was more than three times Circle's figure for the same period.
The spike followed an earlier 24-hour period in which Titan reportedly collected approximately $24.7 million in fees. The revenue increase coincided with a notable rise in MEV bot activity on Ethereum, as more bots competed for priority placement on blocks.
How Block Builders Work
Block builders collect transactions from the Ethereum network and arrange them in the order most likely to generate profit. They then bid for the right to have their constructed block added to the chain.
The profit derived from transaction ordering is called miner extractable value, or MEV. It includes activities such as arbitrage between exchanges and liquidations, where bots pay for advantageous transaction placement.
Under proposer-builder separation, validators propose blocks while specialized builders like Titan construct them through an auction system. Builders pay validators for block selection, with remaining revenue flowing to the builder.
Titan describes itself as a neutral builder that runs multiple bundle-merging algorithms across various relays connecting builders and validators. The builder avoids self-search, meaning it does not pursue its own MEV opportunities, a strategy intended to prevent conflicts of interest with traders and bots using its service.
Market Position and Revenue Context
Titan accounted for approximately 52% of MEV-Boost blocks in October 2026. MEV-Boost is the widely used software connecting Ethereum validators to outside block builders.
Cumulative revenue for Titan has exceeded $160 million. The builder is a private entity with no native token and no planned public token launch.
While Titan topped the single-day leaderboard, its longer-term revenue figures remain below Tether's. Stablecoin issuers generate steady revenue across longer timeframes, whereas block builders experience fluctuations tied to network congestion and bot competition.
Concentration and Network Considerations
Titan's dominance in MEV-Boost block production raises questions about market concentration in Ethereum's block production layer. Some builders receive transactions directly from particular sources, potentially providing advantages in auctions that competitors cannot match.
Titan's neutral positioning and refusal to self-search represent strategies to address concentration concerns within the block-building ecosystem.
