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On-chain Fees:- Crypto\u2019s money has moved \u2013 but not where many expect. A new industry analysis finds that in 2025 roughly $20 billion of on-chain fee revenue flowed through the ecosystem, and it isn\u2019t blockchains or wallets that captures the largest share. Instead, the lion\u2019s share landed with application-layer finance: decentralized exchanges, perpetuals, derivatives and<\/p>\n
The post Not L1s or Wallets \u2013 Who Generates the Bulk of Crypto\u2019s $20B in Revenue?<\/a> appeared first on CoinGape<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":" On-chain Fees:- Crypto\u2019s money has moved \u2013 but not where many expect. A new industry analysis finds that in 2025 roughly $20 billion of on-chain fee revenue flowed through the ecosystem, and it isn\u2019t blockchains or wallets that captures the largest share. Instead, the lion\u2019s share landed with application-layer finance: decentralized exchanges, perpetuals, derivatives and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-409768","post","type-post","status-publish","format-standard","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/409768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=409768"}],"version-history":[{"count":0,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/409768\/revisions"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=409768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=409768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=409768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}