2024-07-06
Ethereum (ETH), the leading smart contract platform,
generates the most revenue from fees per year than any other blockchain.
New data from crypto tracker Lookonchain reveals that Ethereum earns $2.728 billion in fees per year.
Ethereum also earned just over twice that of Bitcoin
(BTC), the top crypto asset by market cap, which came in at $1.3 billion
during the same time frame.
This is more than twice its closest rival, Tron (TRX),
which earns $459.39 million annually.
Other top fee-generating chains analyzed by Lookonchain
include Solana (SOL) with $241.29 million in revenue per year, BNB
Chain (BNB) with $176.56 million, and Avalanche (AVAX) with $68.83
million.
ETH layer-2 scaling solutions zkSync Era, Optimism (OP),
and Polygon (MATIC) came in with $59.77 million, $40.4 million, and
$23.91 million, respectively.
Ethereum users pay gas fees in ETH and denominated in gwei
to conduct transactions and execute smart contracts on the Ethereum blockchain.
The current leading gas guzzler is decentralized exchange
(DEX) protocol Uniswap (UNI), which has consumed 129.17 ETH worth $401,815.53
over the last 24 hours.
Users pay gas fess which are necessary
for transactions and smart contract executions in blockchain networks.
The number of gas fees indicate the growth of a blockchain.
Looking from this information Solana and zkSync Era are blockchains that crypto investors should keep an eye on.
