Layer 1 tokens face reckoning as user growth stalls and revenues concentrate

Posted On December 25, 2025

OAK Research says 2025 punished undifferentiated L1 and L2 tokens as users rotated, MAUs fell 25%, and revenue pooled in stablecoins while dev activity stayed resilient. Layer 1 blockchain tokens experienced significant declines in 2025, with major assets losing substantial…