On-Chain Economic Map
Ethereum carries 63.1% of tracked value, but Hyperliquid L1 turns over the largest share of its own value through exchanges. Size and use are not the same ranking.
This page asks whether on-chain size becomes real use. It compares value held, stablecoin supply, exchange trading and user fees, then removes the largest chain and checks whether the rankings still make sense.
ETHESOLABASEBSCTRONBITCHYPEARBIsize enters; use, trading and fees come out separately
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Does size turn into use?
Value held, stablecoins, exchange trading and user fees are separate facts. A chain only leads the full story when more than one agrees.
| Chain | Value held | Stablecoins | Exchange trading · 24h | User fees · 24h | Trading / value | Fees per $100 traded | One-day value change |
|---|---|---|---|---|---|---|---|
| Ethereum | $52.6bn | $146.5bn | $1.6bn | $11.1mn | 3.1% | $68.04 | Not available |
| Solana | $6.3bn | $15.5bn | $3.3bn | $17.9mn | 51.7% | $55.01 | Not available |
| Base | $5.9bn | $5.0bn | $1.0bn | $1.6mn | 17.6% | $14.89 | Not available |
| BSC | $5.8bn | $13.8bn | $1.3bn | $3.7mn | 23.1% | $27.64 | Not available |
| Tron | $5.5bn | $94.0bn | $32.9mn | $278.8k | 0.6% | $84.66 | Not available |
| Bitcoin | $4.4bn | $0.00 | $418.1k | $3.8k | 0.0% | $91.64 | Not available |
| Hyperliquid L1 | $1.4bn | $7.2bn | $747.1mn | $6.8mn | 52.0% | $90.86 | Not available |
| Arbitrum | $1.4bn | $3.6bn | $290.2mn | $487.5k | 20.4% | $16.80 | Not available |
Ethereum carries 63.1% of tracked value, but Hyperliquid L1 turns over the largest share of its own value through exchanges. Size and use are not the same ranking.