Ethereum Leads in DApp Fee Revenue in Q1 2025

In Q1 2025, Ethereum solidified its leading position in the decentralized application (DApp) platform sector, generating $1.021 billion in fee revenue.

Other networks such as Base (Coinbases Layer-2), BNB Chain, Arbitrum, and Avalanche C-Chain also recorded significant revenue but lagged far behind Ethereum.

Fee Revenue Landscape Among Blockchains

According to Token Terminal, Ethereum maintained its top position among DApp platforms, with DApp fee revenue reaching $1.021 billion in Q1 2025. This figure highlights Ethereums dominance and strong growth within the DApp ecosystem.

Ethereum DApp fee. Source: Token Terminal

Base, a Coinbase Layer-2 network, ranked second with $193 million in DApp fee revenue, showing notable growth but still trailing Ethereum. BNB Chain followed in third with $170 million, Arbitrum with $73.8 million, and Avalanche C-Chain in fifth with $27.68 million.

DApp fee revenue is a key metric for measuring a blockchain‘s activity and user value. On Ethereum, popular DApps include DeFi protocols like Uniswap and Aave, NFT platforms like OpenSea, blockchain games, and social applications. The growth in Ethereum’s DApp fee revenue indicates sustained high demand for these applications despite competition from other networks and often high transaction costs (gas fees) on the mainnet.

Gas fee on Ethereum and other blockchain. Source: L2Fees

Why Ethereum Leads

Several factors explain Ethereums continued leadership in DApp fee revenue. Firstly, Ethereum was the first blockchain to support smart contracts, laying the foundation for its DApp ecosystem. According to DappRadar data, Ethereum remains the blockchain with the largest DApps, hosting over 4,983 active DApps, below the BNB Chain.

Ethereum DApp. Source: DappRadar

Second, Ethereums high security and reliability make it the preferred choice for developers and users. Despite high mainnet transaction costs, Ethereum has improved performance through upgrades like Dencun (implemented in 2024), which reduced costs on Layer-2 networks and enhanced scalability.

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 reached $46 billion, representing 51% of the total TVL in the DeFi market.

Ethereum TVL. Source: DefiLlama

While Ethereum leads, other networks are also showing significant growth. According to Token Terminal, Base, Coinbases Layer-2, generated $193 million in DApp fee revenue, a 45% increase from Q4 2024.

BNB Chain, with $170 million, remains a strong competitor due to low costs and a diverse DApp ecosystem, including platforms like PancakeSwap. Arbitrum, another Ethereum Layer-2, recorded $73.8 million, driven by the expansion of DeFi and blockchain gaming DApps. With $27.68 million, Avalanche C-Chain excels in finance and NFTs but cannot match Ethereums scale.