In the first quarter of 2025, Ethereum firmly maintained its leading position in the decentralized application (DApp) platform sector, generating $1.021 billion in fee revenue.
Other networks such as Base (Coinbase's Layer-2), BNB Chain, Arbitrum, and Avalanche C-Chain also recorded significant revenue, but fell far behind Ethereum.
Blockchain Fee Revenue Status
According to Token Terminal, Ethereum maintained its top position among DApp platforms, with DApp fee revenue reaching $1.021 billion in the first quarter of 2025. This figure highlights Ethereum's dominance and strong growth within its DApp ecosystem.
Base, Coinbase's Layer-2 network, ranked second with $193 million in DApp fee revenue, showing notable growth but still lagging behind Ethereum. BNB Chain ranked third with $170 million, Arbitrum with $73.8 million, and Avalanche C-Chain with $27.68 million in fifth place.
DApp fee revenue is a key indicator of blockchain activity and user value. On Ethereum, DeFi protocols like Uniswap and Aave, NFT platforms like OpenSea, blockchain games, and social applications are popular. Ethereum's increase in DApp fee revenue indicates continued high demand for these applications, despite high transaction costs (gas fees) on the mainnet.
Reasons for Ethereum's Leadership
Several factors contribute to Ethereum's continued leadership in DApp fee revenue. First, Ethereum was the first blockchain to support smart contracts, laying the foundation for the DApp ecosystem. According to DappRadar data, Ethereum remains the blockchain with the most DApps, hosting over 4,983 active DApps, positioned below BNB Chain.
Second, Ethereum's high security and reliability make it a preferred choice for developers and users. Despite high mainnet transaction costs, Ethereum has improved its performance. Upgrades like Dencun, implemented in 2024, have reduced costs and improved scalability for Layer-2 networks.
Third, Ethereum's DeFi ecosystem remains a primary driver of fee revenue. According to defillama, the total value locked (TVL) in Ethereum's DeFi protocols is $46 billion, accounting for 51% of the entire DeFi market's TVL.
While Ethereum leads, other networks are showing significant growth. According to Token Terminal, Coinbase's Layer-2, Base, generated $193 million in DApp fee revenue, a 45% increase from the fourth quarter of 2024.
BNB Chain, with $170 million, remains a strong competitor thanks to low costs and a diverse DApp ecosystem like PancakeSwap. Another Ethereum Layer-2, Arbitrum, recorded $73.8 million, driven by expansion in DeFi and blockchain game DApps. Avalanche C-Chain, with $27.68 million, excels in finance and NFT sectors but does not match Ethereum's scale.
