Leading smart contract platform Ethereum (ETH) generates far more revenue from fees per year than any other blockchain.
New data from crypto tracker Lookonchain reveals that the top altcoin earns $2.728 billion in fees per year, or more than twice its closest rival, Tron (TRX), which earns $459.39 million annually.
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.
Other top fee-generating chains analyzed by Lookonchain include smart contract platform Solana (SOL) with $241.29 million in revenue per year, Binance Smart Chain (BSC) with $176.56 million, and layer-1 blockchain Avalanche (AVAX) with $68.83 million.
Furthermore, 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 paid in ETH and denominated in gwei to successfully conduct transactions and execute smart contracts on the Ethereum blockchain. Gas fees depend on the supply, demand and network capacity.
According to Ethereum data tracker Etherscan, 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.
Currently, the average gas fee on the Ethereum blockchain is 6 gwei, or $0.39, according to Etherscan.
Ethereum is trading for $3,119 at time of writing, a 5.4% decrease during the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
