CDS Crypto News Ether Annual Fee Revenue: Ethereum Tops According to Lookonchain Report
Crypto News

Ether Annual Fee Revenue: Ethereum Tops According to Lookonchain Report

39
Ether Annual Fee Revenue Ethereum Tops According to Lookonchain Report

Ether Annual Fee Revenue: Ethereum Continues to Rise

Ethereum Continues Rise With Ether Annual Fee Revenue
Ether Annual Fee Revenue: Ethereum Tops According to Lookonchain Report 1

According to a recent report by blockchain analytics company Lookonchain, Ethereum generates significantly more one-year fee revenue than any of the top ten blockchains. According to Lookonchain, the cryptocurrency with the largest annual fee revenue is Ethereum ($2.7 billion), followed by Bitcoin ($1.3 billion) and Tron ($459.3 million) in third place.

The following three slots on the list went to other layer one blockchains: Solana made $241.2 million in fees annually, BSC made $176.5 million, and Avalanche made $68.8 million. Layer 2 networks Polygon ranked bottom on the list with annual fees of $23.9 million, while zkSync Era and Optimism earned $59.7 million and $40.4 million in fees, respectively.

Ethereum Leads in Fee Revenues, but Gas Prices Remain Low

Ethereum Leads in Fee Revenues, but Gas Prices Remain Low
Ether Annual Fee Revenue: Ethereum Tops According to Lookonchain Report 2

Even though Ethereum leads in fee income, it is infamous for having extremely high average gas fees. On the other hand, the network’s average gas price is currently at one of the lowest points in years. As of this writing, the typical Ethereum transaction costs only 13 gwei, or approximately $0.85, according to data from Etherscan. Since activity across decentralized applications (Dapps) has been increasing, the impact of the Dencun update and the increase in the adoption of layer 2 scaling solutions could be contributing factors to the decline in gas costs.

For more up-to-date crypto news, you can follow Crypto Data Space.

Ether Annual Fee Revenue: Ethereum Tops According to Lookonchain Report
Written by
lectertodd

Lectertodd is 25 years old. She graduated from Çankaya University, Department of Psychology, in 2021. She actively works as a writer, translator, and editor for various websites. Moreover, she loves reading, researching, and learning new things.

Leave a comment

Leave a Reply

Related Articles

Understanding BTC Price’s Long-Term Investment Potential

Understanding BTC Price's Long-Term Investment Potential

Shiba Inu ETF Speculation Triggers 4000% Surge in SHIB Burn

Shiba Inu ETF Speculation Triggers 4000% Surge in SHIB Burn

OpenAI Develops New AI Model Codenamed ‘Strawberry’

Strawberry builds on OpenAI’s Q* project, introduced in November 2023, which is...

Crypto News- MakerDAO’s $1 billion treasury investment initiative gains attention from BlackRock’s BUIDL

MakerDAO's upcoming competition to allocate funds next month is poised to significantly...