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Market

Ethereum’s Transaction Fee Revenues Drop By 95%

Ethereum (ETH) has seen a 95% drop in its quarterly transaction fee revenue from its peak in Q4 2021. This decline is largely due to reduced Layer 2 contributions and a downturn in the NFT market.

Haider Jamal
March 24, 2025

Shifting Dynamics

In Q1 2025, Ethereum’s transaction fee revenue is projected to reach about $217 million, a sharp decrease from $4.3 billion in Q4 2021. The DeFi ecosystem, NFT sales, and Layer 2 TVL saw growth in 2021, but the dynamics have shifted since.

Source: TokenTerminal

Ethereum’s monthly revenues have been falling, with $150.8 million in January and $47.5 million in February 2025. Q4 2024 saw only $551.8 million in transaction fees, further highlighting the decline.

Worst Quarterly Decline

The rise of Layer 2 solutions, aided by EIP-4844, has reduced mainnet fee revenue by making transactions cheaper off-chain. Additionally, NFT activity has dropped significantly since its 2021 peak.

ETH’s price has also followed a downward trend, dropping 58.8% from its November 2021 high. In Q1 2025, ETH saw a 40% loss, marking its worst quarterly decline since 2018. As of now, ETH is trading at $1,997, with a 0.45% gain over the past day.

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Haider Jamal

Content Strategist

Haider is a fintech enthusiast and Content Strategist at CryptoWeekly with over four years in the Crypto & Blockchain industry. He began his writing journey with a blog after graduating from Monash University Malaysia. Passionate about storytelling and content creation, he blends creativity with insight. Haider is driven to grow professionally while always seeking the next big idea.