Key Notes

Users paid $9.7 billion in H1 2025 fees, the highest first-half total on record, with DeFi protocols capturing 63% of the total revenue.

Average blockchain transaction costs fell 86% since 2021, with daily transactions increasing 2.7 times to 169 million.

Protocols distributed $1.9 billion to token holders in Q3 2025, an all-time high, as the regulatory environment improved for value distribution. .

Investment firm 1kx published its H1 2025 Onchain Revenue Report on Oct. 30, projecting total onchain fees will reach $19.8 billion in 2025, a 35% year-over-year increase.

The report found application-layer fees grew 126% YoY while blockchain-layer fees declined. Users paid $9.7 billion in onchain fees during H1 2025, the highest first-half total on record.

The analysis examined

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