Gravity’s layer-2 chain earned $1.88 in network fees over the last 24 hours. A coffee costs more than that, and it is not a typo.
I added up all 23 layer-2s from your list, and the combined total landed below what a single rival chain collected.
Combined Chain Fees for 23 L2s Hit Only $25,151 in 24 Hours
DefiLlama’s chain fee data puts the combined 24-hour total for these 23 networks at $25,151. Chain fees are what users pay the network itself, not what apps charge on top.
I did the math twice because I did not believe it the first time. Seven chains earned more than $1,000 each and made up about 87% of the total. Nine chains earned less than $100.
Starknet Leads a List Where Most Chains Earn Under $500
Starknet is the clear winner at $8,571, roughly a third of the whole group’s fees. Abstract and Celo follow at about $3,400 and $3,100. What stands out to me is Celo, which logged more than 400,000 active addresses on its own page yet earned about the same as a small coffee shop on a slow day.
Further down, the picture gets thinner. Lisk earned $3.83 and Gravity $1.88. TVL does not guarantee fees either. Ink holds $207.89 million in TVL and earned $631, while Mantle holds $105.41 million and earned $372. Lots of money is parked on these chains, and very little of it is being spent.
Base and Arbitrum Capture the Fees These Chains Hoped to Win
The comparison that stuck with me is Base. According to the same table, Base earned $114,838 in chain fees, about 4.6 times the combined total of all 23 chains here. Arbitrum took in $26,116, which is more than the entire list put together.
Base also holds $6.37 billion in TVL against Arbitrum’s $1.41 billion. Users and liquidity are clustering on a few winners, and the long tail of L2s is splitting what remains. That is the core of the struggle. Many of these networks launched with the promise of their own communities, and a big share of them still can’t pull in even four figures a day.
Blast’s Shutdown Shows What Happens When Costs Exceed Revenue
Blast sits sixth on the list at $1,480, which tells you how thin the field is. This week the team announced it is shutting down, saying its ongoing costs exceed the revenue the chain generates. Users have until October 26 to withdraw through the normal interface, and after that they must use the bridge contracts directly.
DefiLlama’s Blast page still shows about $32 million in TVL. A chain that once held more than $2 billion is closing while ranking mid-table among its peers, and I’d read that as a warning for the networks below it.
Why Cheap Blockspace Has Not Turned Into Revenue
Low fees are partly by design. Layer-2s promised users cheap transactions, and they delivered, so users pay pennies. DefiLlama also separates chain fees from app fees, so a busy DEX or lending market on a chain adds to app revenue without lifting what the chain itself earns.
I think this is the hard truth of the model. Cheap blockspace attracts users, but only high volume turns pennies into a business. Most of these networks have the low prices and not the volume.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on X @nulltxnews
Be the first to comment