The Ripple token, XRP, is currently facing a price drop, even though activity from large holders, or “whales,” on Binance has slowed down. Data from [...]The Ripple token, XRP, is currently facing a price drop, even though activity from large holders, or “whales,” on Binance has slowed down. Data from [...]

Crypto Revenue Shifts From Blockchains to DeFi Applications

2 min read

Revenue in the crypto industry is increasingly moving away from blockchains and toward user-facing applications, according to recent data.

This shift shows where real value is now being created in the crypto space. According to Jamie Coutts, chief crypto analyst at Real Vision, data shows that decentralized finance (DeFi) applications now earn five times more fees than blockchain networks.

These applications include wallets, decentralized exchanges (DEXs), and other protocols that users interact with directly. In mid-2024, blockchains and DeFi apps earned similar fees, but DeFi protocols have since taken a clear lead.

This trend suggests that platforms closest to users are capturing more value than the underlying networks. While blockchains still provide security and infrastructure, they are earning a smaller share of total fees compared to applications built on top of them.

Coutts believes blockchain networks will always benefit from strong network effects. However, he argues that more value should move to the front end of the ecosystem. Wallets, DeFi apps, and protocols handle user activity, transactions, and liquidity, making them natural fee generators.

DeFi Apps Dominate Crypto Fees

Data from DeFiLlama supports this view. Over the past 30 days, the top 17 fee-generating crypto entities were all applications or protocols, not base-layer blockchains. Stablecoin issuer Tether ranked first, generating around $563 million in fees, far ahead of any blockchain.

Among blockchains, Solana performed the best, earning about $20.4 million in fees over the same period. It was the only blockchain to rank in the top 20. Ethereum was the only other blockchain in the top 30, earning $10.3 million and ranking 27th.

According to Nansen, Solana was the most-used blockchain, with over 68 million active addresses in the past 30 days, up 14%. Ethereum ranked sixth, with 13 million active addresses, but showed strong growth of 53%.

Market Opportunity
DeFi Logo
DeFi Price(DEFI)
$0.000343
$0.000343$0.000343
+0.29%
USD
DeFi (DEFI) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says

XRP Enters ‘Washout Zone,’ Then Targets $30, Crypto Analyst Says

XRP has entered what Korean Certified Elliott Wave Analyst XForceGlobal (@XForceGlobal) calls a “washout” phase inside a broader Elliott Wave corrective structure
Share
NewsBTC2026/02/05 08:00
Republicans are 'very concerned about Texas' turning blue: GOP senator

Republicans are 'very concerned about Texas' turning blue: GOP senator

While Republicans in the U.S. House of Representatives have a razor-thin with just a four-seat advantage, their six-seat advantage in the U.S. Senate is seen as
Share
Alternet2026/02/05 08:38
Headwind Helps Best Wallet Token

Headwind Helps Best Wallet Token

The post Headwind Helps Best Wallet Token appeared on BitcoinEthereumNews.com. Google has announced the launch of a new open-source protocol called Agent Payments Protocol (AP2) in partnership with Coinbase, the Ethereum Foundation, and 60 other organizations. This allows AI agents to make payments on behalf of users using various methods such as real-time bank transfers, credit and debit cards, and, most importantly, stablecoins. Let’s explore in detail what this could mean for the broader cryptocurrency markets, and also highlight a presale crypto (Best Wallet Token) that could explode as a result of this development. Google’s Push for Stablecoins Agent Payments Protocol (AP2) uses digital contracts known as ‘Intent Mandates’ and ‘Verifiable Credentials’ to ensure that AI agents undertake only those payments authorized by the user. Mandates, by the way, are cryptographically signed, tamper-proof digital contracts that act as verifiable proof of a user’s instruction. For example, let’s say you instruct an AI agent to never spend more than $200 in a single transaction. This instruction is written into an Intent Mandate, which serves as a digital contract. Now, whenever the AI agent tries to make a payment, it must present this mandate as proof of authorization, which will then be verified via the AP2 protocol. Alongside this, Google has also launched the A2A x402 extension to accelerate support for the Web3 ecosystem. This production-ready solution enables agent-based crypto payments and will help reshape the growth of cryptocurrency integration within the AP2 protocol. Google’s inclusion of stablecoins in AP2 is a massive vote of confidence in dollar-pegged cryptocurrencies and a huge step toward making them a mainstream payment option. This widens stablecoin usage beyond trading and speculation, positioning them at the center of the consumption economy. The recent enactment of the GENIUS Act in the U.S. gives stablecoins more structure and legal support. Imagine paying for things like data crawls, per-task…
Share
BitcoinEthereumNews2025/09/18 01:27