A recent report from asset manager VanEck reveals a significant decline in blockchain network revenues during September. The data shows a 16% drop compared to the previous month, largely attributed to reduced volatility in the crypto markets and the underlying tokens powering these networks. Ethereum’s revenue fell by 6%, Solana’s dropped by 11%, and the Tron network saw a notable 37% decrease in fees due to a governance proposal that lowered gas fees by over 50% in August, according to VanEck’s report. This decline was mirrored across other networks as Ethereum volatility decreased by 40%, Solana’s fell by 16%, and Bitcoin’s dropped by 26%. The overall impact of reduced market volatility is evident in the lower volume of arbitrage opportunities that drive high transaction fees. Network revenue and fees are a vital indicator of the health and activity within these ecosystems, providing insights for traders, investors, and analysts to track the performance of individual projects and the broader crypto sector. While this decline highlights challenges, other aspects show positive growth. The Tron network continues to dominate in revenue generation, earning $3.6 billion in the past year according to data from Token Terminal, highlighting its success through stablecoin settlements. This dominance stems from a substantial 51% of all circulating Tether USDt (USDT) supply being issued on the Tron network. The stablecoin market cap has also seen significant growth, surpassing $292 billion in October 2025, fueled by the use of blockchain technology for fiat currency conversions. This innovation allows governments to facilitate smoother international transactions with near-instant settlement times and minimal fees, bypassing traditional banking systems.