Onchain revenue nears $20B in 2025, marking a maturity test for crypto: Research
Onchain revenue, measured by user-paid fees, is projected to hit $19.8 billion in 2025, signaling crypto's growing maturity and utility.Summary
A new Onchain Revenue Report from venture capital firm 1kx indicates that onchain revenue, defined as user-paid fees for transactions and services on blockchains, is expected to reach $19.8 billion in 2025. This projection follows a record $9.7 billion in the first half of the year alone, demonstrating a tenfold growth since 2020 with a 60% compound annual growth rate, although it remains below the 2021 peak of $24.1 billion.
The report authors view these fees as the best indicator of repeatable utility for which users and firms are willing to pay, suggesting that the ability to generate consistent fee revenue will distinguish durable networks from early experiments as regulation improves. This growth reflects a structural shift where cryptocurrencies are becoming revenue-generating assets rather than purely speculative instruments.
Furthermore, the growth is tied to emerging sectors like real-world asset (RWA) tokenization, which saw its onchain value surge past $35 billion. The fees generated by tokenized assets are growing even faster than their value, which is supported by major Wall Street players like JPMorgan, BlackRock, and BNY Mellon investing heavily in asset tokenization.
(Source：Cointelegraph)