Ethereum topped all blockchains in charge income for 2024, producing $2.48 billion over the 12 months. This robust efficiency in charges, nevertheless, contrasted with ETH’s worth, which underperformed expectations throughout the identical interval.
All in all, Layer 1 and a couple of blockchains collectively earned virtually $6.9 billion from transaction charges final 12 months.
Ethereum Maintains Payment Dominance Regardless of Dencun Improve
In accordance with CoinGecko’s newest report, Ethereum’s charge income determine witnessed a 3% improve in comparison with the $2.41 billion earned in 2023.
Regardless of the Dencun improve in March 2024, which lowered Layer 2 transaction prices and a continued shift of customers from the primary Layer 1 chain to Layer 2 scaling options, Ethereum maintained its dominance in charge earnings.
CoinGecko discovered that the charges Ethereum earned fluctuated month by month. In 2023, it generated between $91.22 million and $448.70 million per 30 days, with increased earnings throughout Might’s meme coin frenzy and the market surge on the finish of the 12 months. In 2024, this vary expanded considerably, with month-to-month earnings falling between $62.82 million and $606.77 million.
Ethereum’s charge income reached $1.17 billion within the first quarter of 2024 and constituted practically half of its annual complete. This was the blockchain’s best-performing quarter in two years, owing to a surge in on-chain exercise triggered by airdrop initiatives.
Bitcoin and BNB Chain Lag Behind
Tron grew to become the second highest-earning blockchain and earned $2.15 billion in charges in 2024, a 116.7% rise from $922.08 million the earlier 12 months. The expansion in Tron’s charges was largely pushed by increasing stablecoin utilization, with month-to-month earnings rising from $38.36 million in January 2023 to $342.54 million in December 2024.
Subsequent up was Solana, whose annual charge earnings skyrocketed by 2,838%, leaping from $25.55 million in 2023 to $750.65 million in 2024. It was the most well-liked blockchain ecosystem of the 12 months, with transaction volumes spiking to the purpose of community congestion in April 2024. Solana’s month-to-month charge earnings have been regular in 2023 however rose unpredictably in 2024, beginning at $15.54 million in January, reaching an all-time excessive of $197.5 million in November, and settling at $120.95 million in December.
Alternatively, Bitcoin’s charge earnings grew by virtually 16%, whereas BNB Chain noticed an 8.7% rise, each exhibiting extra average will increase. Bitcoin’s progress has been supported by better exercise from Ordinal NFTs, BRC-20, and Rune tokens, along with surging curiosity in growing on the Bitcoin blockchain.
Binance Free $600 (CryptoPotato Unique): Use this link to register a brand new account and obtain $600 unique welcome provide on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE place on any coin!