Ethereum (ETH), the world’s second-largest blockchain by market capitalization, has seen its quarterly transaction fee revenue drop dramatically by approximately 95% from its all-time high in Q4 2021.
This decline can be primarily attributed to a decrease in Layer 2 contributions, coupled with a significant dip in activity within the non-fungible token (NFT) market.
What’s Driving the Drop in Ethereum’s Transaction Fee Revenue?
Token Terminal highlighted this shift in the latest X (formerly Twitter) post. Based on their estimate, Ethereum’s transaction fee revenue for Q1 2025 is projected to reach approximately $217 million
source: https://beincrypto.com/ethereum-transaction-fee-decline/