Wu said, according to 1kx research, on-chain fundamentals in Q1 2026 are a mixed bag. The on-chain fees paid by users dropped approximately 50% compared to the same period last year, and 26% quarter-over-quarter. The overall decline is mainly driven by DeFi, with Perp DEX taking the biggest hit, followed by wallets and the Consumer sector. Some protocols that generated over $100,000 in fees last quarter have now dropped to $0, including Quanto, Lava, and Rezerve Money. https://(wublock123.com)/news/1kx-q1-2026-onchain-fees-down-50pct-defi-lags-58965