- Tron leads April 2025 blockchain revenue with $11.2M, driven by high user activity.
- Ethereum dominates TVL but lags in revenue due to lower daily active addresses.
- Solana records highest user activity, while Base and Arbitrum show rising revenue potential.
Recent data from Phoenix Group reveals that Tron topped the charts in blockchain revenue for April 2025, bringing in $11.2 million for the month. This places Tron at the forefront of revenue generation, showcasing the shift in dynamics between high-activity chains and those with larger total value locked (TVL). While Ethereum continues to hold the TVL crown, its revenue performance falls short compared to Tron, indicating a changing landscape in blockchain economics.
TOP 15 BLOCKCHAINS BY REVENUE FOR THE LAST MONTH#Tron #Ethereum #Base #Solana #Arbitrum #BNBChain #ICP #Sui #Injective #OPMainnet #Ton #Avalanche #Near #Polygon #Linea pic.twitter.com/bRrDIOcbgW
— PHOENIX – Crypto News & Analytics (@pnxgrp) April 14, 2025
Ethereum recorded $4.5 million in revenue in April, less than half of Tron’s monthly earnings. Despite its TVL of $70.6 billion, the highest among all blockchain networks, Ethereum saw lower user activity.
Data from the same period showed that Ethereum had 311,300 active addresses over 24 hours, while Tron registered 2.2 million. The significant difference in daily user engagement appears to be a key factor in Tron’s superior revenue output, suggesting that transaction volume and user activity may surpass TVL as a primary revenue determinant.
Base, Solana, and Arbitrum Follow Behind in Earnings
Base, Solana, and Arbitrum rounded out the top five revenue-generating blockchains for the month. Base earned $1.8 million, Solana brought in $1.5 million, and Arbitrum recorded $972,000. While these figures place them behind Tron and Ethereum, they indicate a growing share of the overall blockchain revenue landscape.
Source: X
Among the three, Solana stood out for its network usage, boasting 3.3 million active addresses within 24 hours, the highest among all chains in the dataset. However, Solana’s $14 billion TVL, while higher than Base’s $2.8 billion and Arbitrum’s $2.1 billion, still falls short of Ethereum’s holdings.
Lower-Tier Networks Also Contribute to Monthly Revenue
Below them, several other networks recorded slightly lower but equally impressive revenues. BNB Chain led the pack, generating $867K in April, followed by the Internet Computer Protocol with $415k. Sui recorded $197,000 while Injective’s OP Mainnet brought in $153,000. Ton reached $118,000 during the same period.
Additional chains in the ranking include Avalanche, Near, Polygon, and Linea, each earning between $56,000 and $118,000 in revenue, showcasing the competitive nature of the blockchain space in both Layer 1 and Layer 2.
Revenue Doesn’t Always Mirror TVL
The report also highlights the disparity between revenue generation and total value locked. Despite Ethereum holding the largest TVL at $70.6 billion, its revenue falls short of Tron’s, which maintains only $5 billion in TVL. Solana’s $14 billion TVL also surpasses Tron’s, yet it recorded lower monthly revenue.
The April 2025 revenue rankings add complexity to blockchain evaluation. While Ethereum maintains a strong position due to its TVL and established ecosystem, Tron’s revenue lead suggests that user activity and network efficiency are becoming crucial factors in assessing blockchain performance.
The increased activity and high revenue rate indicate Tron’s potential to become a leader in blockchain monetization. The presence of Base, Solana, and Arbitrum in the middle and upper tiers underscores the importance of efficiency and adoption in the competitive landscape.