Analyzing the State of Crypto; Ethereum Leads in Revenue
The Ethereum blockchain recorded the highest weekly revenue of $16.5 million. Tron emerged as the top blockchain in weekly active users, with 6.2 million users. BNB chain came second with 4.1 million users.
The on-chain analysis of cryptocurrencies looked at different aspects. The study focused on the 7-day performance of different blockchains.
The analysis looked at different aspects of performance, including Active users, Fees, Revenue, and Transaction Count. This analysis covers the past week’s activities on decentralized applications (dApps) and protocols.
Ethereum Leads in Weekly Revenue
The Ethereum blockchain led in Weekly revenue, recording $16.5 million. Last week, it was the only network to record revenues above $10 million. The Tron blockchain followed with $9.3 million and Solana with $5.2 million.
Interestingly, PumpFun, which was recently hacked, received over $3.5 million in revenue, and Trojan recorded $2.7 million.
Tron Leads in Weekly Active Crypto Users
Tron and Solana gained 45% and 17% in market share over the past two years, respectively, while BTC, Ethereum, and BNB Chain lost with respect to daily active users.
Daily active users (unique fee-paying addresses) for Bitcoin, Tron, BNB Chain, Ethereum, and Solana.
Tron (45%) and Solana (17%) have gained market share over the past two years, whereas Bitcoin, Ethereum, and BNB Chain have lost. pic.twitter.com/DDEYwHXoOI
— Token Terminal (@tokenterminal) May 21, 2024
The Tron blockchain recorded the highest number of weekly active users. The on-chain data revealed the Tron network had over 6.2 million users last week. Tron took a resounding lead, with a gap of over 2 million active users. BNB Chain recorded 4.1 million users, closely followed by Arbitrum with 4.0 million users.
Polygon Chain took fourth place with 3.2 million active users, and interestingly, the Bitcoin network managed the top five with 2.4 million active users.
Also Read: Tron Price Prediction 2024–2030: Will Tron Reach $10?
The weekly active users do not reflect the actual fees spent on the network. The analysis also considered the fees and ranked the top five.
The Tron network had the highest fees, at $33.5 million. Ethereum recorded $23.1 million, Lido DAO $18.2 million, Uniswap $17.1 million, and Bitcoin took the fifth spot with $10.8 million.
TON Network Achieves 45.1 Million Weekly Transactions
The analysis also looked at the total transactions on top blockchain networks. The TON network made a surprise appearance on the list, contending for the top stop.
The high transaction numbers on the TON network can result from the recent partnership with Telegram Wallet and Tether USDT to bring crypto to Telegram users.
The Tron DAO led in weekly total transactions in a highly contested first place, with 45.7 million. TON followed with 45.1 million transactions. Polygon and BNB Chain recorded 28.2 million and 23.6 million transactions, respectively. Arbitrum took the fifth spot with 20.1 million weekly transactions.
Cryptopolitan reporting by Collins J. Okoth
