In the first quarter of 2025, decentralized applications (dApps) on the Ethereum blockchain generated $1.014 billion in fees, according to Token Terminal data. This revenue surpasses that of other blockchain platforms by more than five times, with Base earning $193 million, BNB Chain $170 million, Arbitrum $73.8 million, and Avalanche C-Chain trailing behind. Despite Ethereum's dominance in quarterly fees and overall capital locked in its applications, totaling $203 billion—exceeding Ethereum's own market capitalization—Solana has emerged as a leader in total blockchain revenue, accounting for 35% of the market. Additionally, Solana reportedly generated more fees in a 24-hour period than Ethereum, BNB Chain, and Base combined, highlighting its growing fee generation capacity. Other blockchains like Tron and Avalanche remain far behind Ethereum in terms of capital absorbed in their ecosystems.