Blockchain onchain revenues soared to $19.8 billion in 2025, as reported by 1kx. The first half of the year alone saw revenues of $9.7 billion, marking a 41% increase from the previous year. DeFi continues to lead the sector, accounting for 63% of the total fees, while decentralized applications and stablecoins capture significant value. The number of blockchain protocols generating over $1 million in annual revenue has surged from 125 in 2021 to nearly 400 in 2025, highlighting the rapid growth and diversification within the industry.