Layer-1 Prices Decline in 2025, Ethereum Fundamentals Suggest Repricing

• Most Layer 1 tokens posted yearly losses exceeding 15%, led by TON’s 73.8% drop.

• Tron topped revenue at $3.5 billion, while Solana led fees at $699.9 million.

• BNB Chain recorded 59.8 million active addresses, with Ethereum at 9.3 million, showing sustained usage.

Layer 1 tokens 2025: Prices crashed but revenue and users thrived. Discover top performers like Tron and BNB amid the drawdown. Stay ahead with key metrics for smart investing today.

Source: Schizoxbt analysis shared on X, December 25, 2025

What was the performance of Layer 1 tokens in 2025?

Layer 1 tokens in 2025 faced significant price pressure, with major networks experiencing steep yearly declines despite strong on-chain activity. Ethereum closed the year down 15.3%, Solana dropped 35.9%, Avalanche fell 67.9%, and Sui declined 67.3%. Only BNB and TRX bucked the trend, gaining 18.2% and 9.8%, respectively. TON suffered the worst at 73.8%.

How did revenue and fees perform across Layer 1 networks in 2025?

Despite price weakness, Layer 1 revenue remained concentrated among top performers. Data from Token Terminal indicated Tron generated $3.5 billion in revenue over the past 365 days, far outpacing Ethereum’s $305.3 million and Solana’s $206.8 million. This highlighted Tron’s dominance in network monetization.

Source: Token Terminal

Fee generation followed a comparable pattern. Solana led with $699.9 million in fees, Ethereum recorded $549.3 million, and BNB Chain produced $260.3 million. These figures underscored that economic activity did not mirror token price downturns, as networks continued to capture value from transactions and usage.

Source: Token Terminal

Such metrics from Token Terminal provide a clear view of Layer 1 sustainability. Revenue and fees represent real economic output, often driven by decentralized applications, stablecoin transfers, and high-volume trading. Tron’s lead stems from its role in facilitating efficient, low-cost transactions, particularly in emerging markets.

Frequently Asked Questions

Which Layer 1 token had the worst performance in 2025?

TON recorded the sharpest decline among major Layer 1 tokens in 2025, falling 73.8% over the year. This outperformed other networks like Avalanche at 67.9% and Sui at 67.3%, according to analysis from Schizoxbt on X dated December 25.

Did user activity drop on Layer 1 networks during 2025?

No, monthly active addresses stayed high across leading Layer 1s. BNB Chain topped with 59.8 million, Solana had 39.8 million, and NEAR Protocol reached 38.7 million, per Token Terminal data, indicating persistent engagement.

Source: Token Terminal

Key Takeaways

• Price declines dominated: Layer 1 tokens averaged heavy losses in 2025, with only BNB and TRX posting gains amid broad market risk-off sentiment.
• Fundamentals held firm: Revenue led by Tron at $3.5B and fees by Solana at $699.9M showed networks retained economic viability.
• User growth persisted: Active addresses exceeded tens of millions on top chains like BNB Chain, signaling no exodus from Layer 1 ecosystems.

Conclusion

Layer 1 tokens in 2025 demonstrated a clear split between price performance and underlying metrics, with Layer 1 performance marked by corrections after October peaks while revenue, fees, and active users remained elevated. Networks like Tron, Solana, and BNB Chain proved resilient through real usage. Investors should monitor Token Terminal data for signs of sustained value capture as markets evolve into 2026.