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Layer 1 Tokens Depreciate in 2025 as Users Shift to Bitcoin and BNB Chain

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BTC
$66,862.000.25%
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ETH
$2,064.700.81%
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SOL
$79.550.31%
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BNB
$586.955-0.7%
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MNT
$0.6766-0.04%
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On-chain news shows Layer 1 and Layer 2 tokens lost value in 2025 as users moved to Bitcoin and BNB Chain. OAK Research cited overleveraged tokenomics and weak value capture as key issues. Monthly Active Users dropped 25.15%, with Solana falling hardest. BNB Chain nearly tripled users, while Base boosted TVL. Optimism and zkSync Era saw sharp declines. Mantle (MNT) was the only token with a small gain. Developer activity stayed high, but infrastructure tokens struggled against revenue-driven protocols. Bitcoin news continues to dominate as institutional capital favors top assets.

As per Crypto.News, Layer 1 and Layer 2 tokens experienced significant depreciation in 2025, with major assets losing substantial value despite sustained developer activity. The OAK Research report highlighted overleveraged tokenomics, weak value capture, and institutional preference for Bitcoin and Ethereum as key factors behind the decline. Total Monthly Active Users across major chains dropped 25.15%, with Solana recording the steepest decline. BNB Chain nearly tripled its user base, while Base showed strong TVL growth. Optimism and zkSync Era posted severe declines, and only Mantle (MNT) managed a modest gain. Developer activity remained robust, but infrastructure tokens lacking differentiation struggled to compete with revenue-generating protocols like stablecoin issuers and derivatives platforms.

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