Blockchains’ onchain revenue share drops to 25% as apps dominate

According to the 1kx Onchain Revenue Report, blockchains’ share of total onchain fee generation has collapsed from roughly 56% in 2021 to just 22% in the first half of 2025. Projections suggest blockchain revenues will dip below 20% by end of 2025, meaning apps now capture approximately three-quarters of all onchain revenue. How the tables turned DeFi applications accounted for 63% of all onchain fees collected in the first half of 2025, driven primarily by trading activity and derivatives volume. Transaction costs fell roughly 90% from their 2021 peak, a direct result of scaling improvements, layer-2 adoption, and more efficient block space markets. Tron, Ethereum, and Solana still dominate what remains of the blockchain-side fee market, collectively accounting for roughly 80% of blockchain-layer fees in H1 2025. The numbers behind the shift Total onchain fee revenue for 2025 is projected at $19.8 billion, which represents a 35% year-over-year increase. Projections for 2026 push total onchain fees above $32 billion, a 63% increase from 2025 levels. The 1kx report attributes that entire growth figure to the application layer, with zero growth expected from blockchains themselves. V...