Ether Annual Fee Revenue: Ethereum Tops According to Lookonchain Report

Ether Annual Fee Revenue: Ethereum Continues to Rise

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

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.

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