Ethereum
Ethereum Soars 100% Over Bitcoin in Annual Revenue — TradingView News
According to Lookonchain’s latest report, Ethereum has surpassed Bitcoin in terms of fee revenue over the past year by 100%. As such, its network has recorded $2.73 billion in fee revenue, the most in the industry. Bitcoin, in second place, generated $1.3 billion. Tron Network closes the top three with nearly $460 million.
Other networks also contributed to the overall fee revenue landscape. Solana generated $241.3 million, Binance Chain accumulated $176.6 million, and Avalanche recorded $68.83 million. Additionally, zkSync Era earned nearly $60 million, Optimism $40.4 million, and Polygon $23.9 million.
Here are the top 10 chains by fee revenue over 1 year. #Ethereum earns $2.728 billion in fees per year, #Bitcoin earns $1.302 billion in fees per year, and #TronNetwork earns $459.39 million in fees per year. pic.twitter.com/ixAiP9g8JA— Lookonchain (@lookonchain) July 3, 2024
As the data shows, Ethereum has a significant lead, doubling Bitcoin’s revenue. This result is attributed to a wider range of applications and services on the main altcoin network, with higher usage and transaction fees as a result.
Ensure victory?
The Ethereum ecosystem supports decentralized financial platforms, NFTs, and various applications, all of which contribute to increasing transaction volume and fee revenue. This is what has positioned ETH as a more versatile and widely used network compared to Bitcoin.
On the other hand, Bitcoin’s revenue, although over $1 billion, is primarily derived from its role as a digital store of value and medium of exchange. Its transaction fees are affected by network congestion and the price of BTC itself, which can fluctuate significantly.
However, it still lacks the broad range of applications found in the Ethereum ecosystem, resulting in lower overall revenues.