Ethereum experienced record transaction volumes in 2025 but saw its ETH token price decline by 10% year-to-date due to reduced fee revenue from Layer-2 networks. The Dencun upgrade lowered fees, shifting over $100 million in potential fees from Ethereum to Layer-2 operators, with Coinbase's Base capturing nearly 60% of Layer-2 revenue. Despite ETH's price drop, Ethereum's DeFi dominance and institutional adoption continue to grow, underlining a structural shift in the network's economic model.
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[IMPORTANT] Ethereum Loses Over $100M in Fees as Layer-2 Networks Capture Majority of Revenue in ...
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