Most major Layer 1s are still loss-making for token holders once inflation is factored in.
In 2025: • Solana recorded ~$4.15B in net losses • Ethereum lost ~$1.62B • Ethereum generated ~$260M in revenue • Solana generated ~$170M • Tron generated ~$732M Only @trondao revenue exceeded its token inflation costs, resulting in positive earnings and net deflation.
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Most major Layer 1s are still loss-making for token holders once inflation is factored in.
In 2025:
• Solana recorded ~$4.15B in net losses
• Ethereum lost ~$1.62B
• Ethereum generated ~$260M in revenue
• Solana generated ~$170M
• Tron generated ~$732M
Only @trondao revenue exceeded its token inflation costs, resulting in positive earnings and net deflation.