LunarCrush, a platform that uses artificial intelligence (AI) to analyze digital assets such as cryptocurrencies, has revealed a list of the top 15 blockchains that generated revenue in 2025. In the given list, the Solana blockchain leads all blockchains with 39.8 million active addresses and a total value locked (TVL) of $17.3 billion, and has managed to generate $1.4 billion in revenue.
Top 15 Blockchains by Revenue in 2025 #Solana #Hyperliquid #Tron #Ethereum #BNBChain #Base #Axelar #Bittensor #OPMainnet #Sui #Arbitrum #ICP #Avalanche #Injective #Polygon pic.twitter.com/Zi0VHT05g2
— Phoenix – Crypto News and Analysis (@pnxgrp) December 24, 2025
Hyperliquid is the runner-up in this race with a TVL of $2 billion and has also shown strong revenue growth, which is approximately $814 million, with 292.7 million active addresses by 2025. The next company is Tron, which has a very good TVL growth compared to Hyperliquid, with around $4.4 billion, 16.8 million active addresses, and $607 million in revenue. Phoenix Group revealed this news through the official X account.
60 million active addresses on BNB chain, scalable without large TVL
Ethereum ranks fourth with 9.3 million active addresses, revenue of $524 million in 2025, and TVL of $109.6 million. Next is the BNB chain with $256 million in revenue and $7.9 billion TVL. The BNB chain is the only blockchain in the specified list with a recorded value of 60.0M active addresses. Additionally, the Base blockchain comes with 8.7 million active addresses, $76.3 million in revenue generation, and $4.3 billion in TVL.
The Axelar blockchain came in with a minimum of 5.6K in terms of active addresses, a TVL of $213.8 million, and revenue of $56.8 million. Bittensor occupies a central position in certain blockchains and has managed to generate $33.4 million in revenue. Additionally, OP Mainnet has 501.9K active addresses along with a TVL of $288.2M, with very modest revenue growth of $21.6M.
Arbitrum's 4 million active addresses and the reality of revenue
Sui blockchain could be ranked 10th in the list of blockchains that performed well in 2025 in three aspects: active addresses, TVL, and revenue. Sui Blockchain is listed with a TVL of $1.1 billion and has managed to generate $18.8 million in revenue. Additionally, the Arbitrum blockchain will have $16.3 million in revenue with a TVL of $2.8 billion and will have 4 million active addresses during 2025.
ICP blockchain has a TVL of $20.1 million, but it is hardly able to generate $10.5 million in revenue. This is a low value compared to the aforementioned blockchains. The Avalanche blockchain has 432.6K active addresses and holds a TCL of $1.5 billion along with $8.3 million in revenue, making it the third-last position on the list of blockchains.
Injective Blockchain has hardly been able to establish itself in the list, but it is in the second-to-bottom position with a TVL of $30.6 million, active addresses of 138.7K, and revenue of $6 million. Last but not least, Polygon blockchain came in last place in the 2025 blockchain competition. Polygon generated the least revenue at $5.5 million, with TVL of $1.1 billion with 14.2 million active addresses.
