**Active users are rising against the trend, but transaction fees are shrinking? What December on-chain data reveals**

It may seem contradictory, but December's on-chain data precisely confirms this. Although the overall industry fee revenue is on a downward trend, the activity levels of the four leading public chains—Ethereum, Polygon, Arbitrum, and Avalanche—still maintain steady growth.

The underlying logic is actually easy to understand—transaction counts and user activity are increasing, but due to intensified competition and technical optimizations, the average transaction fee is decreasing. In other words, more people are participating in on-chain transactions, but each transaction costs less. This is good news for users and also a positive signal for ecosystem vitality. It also explains why, even though wallet earnings from fees are decreasing, mainstream public chains can still maintain a stable user base and transaction volume.