Crypto industry will generate almost $20 billion in revenue in 2025

According to the latest Onchain Revenue Report from venture capital firm 1kx, onchain revenues in the crypto sector are expected to reach approximately $19.8 billion this year – following a record $9.7 billion in the first half of the year alone. This represents a more than tenfold increase in fees paid by users for transactions on the blockchain since 2020. However, the all-time high of $24.1 billion from 2021 is likely to remain unmatched for the time being.
The revenues include all fees for trading, swaps, gaming, and registrations on blockchain networks. According to the report, they are the best indicator of actual utility: “As protocols mature and regulations become clearer, the ability to generate stable fee revenues will differentiate resilient networks from experimental projects,” it states.
The rising on-chain fees also demonstrate the growing acceptance of blockchain applications. Areas such as DeFi, the tokenization of real-world assets (RWA), decentralized physical infrastructure networks (DePINs), and wallets are experiencing particularly strong growth.
The tokenization of real-world assets is increasingly proving to be a growth driver: The on-chain value of tokenized RWAs – excluding stablecoins – rose to over $28 billion by the third quarter of 2025 and, according to RWA.xyz, has since surpassed the $35 billion mark. Large financial institutions such as JPMorgan, BlackRock, and BNY Mellon are also now investing in this area.

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