Web3 revenue shifts from blockchains to wallets and DeFi apps

Recent data suggests that a significant portion of the blockchain industry's fees is now being captured by DeFi protocols rather than the underlying networks. This trend indicates a shift in investor interest towards front-end applications, especially DeFi. These apps offer new revenue opportunities and convenience for users, likely leading to increased activity on the underlying blockchains. As interest continues to grow, investors may allocate more capital to these applications, potentially catalyzing further evolution in blockchain technology. Additionally, the low fees and transparency offered by DeFi apps are factors contributing to their rising popularity among users. Future attention will be focused on how the growth of these applications influences the activation of blockchain networks.