Layer-2 Solutions Drive Ethereum’s Fee Revenue to New Heights

• Ethereum has topped the chart among other chains in yearly fee revenue.
• Ethereum earned $2.728 billion in fees last year, over twice that of Bitcoin.
• Layer-2 protocols are flourishing in the Ethereum ecosystem.

Ethereum has topped the charts in annual fee revenue, generating more than twice the fees of the Bitcoin blockchain over the same period. According to a recent post by blockchain analytics platform Lookonchain, Ethereum earned $2.728 billion in fees last year, while Bitcoin earned $1.302 billion.

Here are the top 10 chains by 1-year fee revenue.#Ethereum earns a fee of $2.728B per year, #Bitcoin earns a fee of $1.302B per year, and #TronNetwork earns a fee of $459.39M per year. pic.twitter.com/ixAiP9g8JA

— Lookonchain (@lookonchain) July 3, 2024

Meanwhile, Tron Network secured third place with $459.39 million in network fees, followed by Solana with $241.29 million, and Binance Smart Chain (BSC) with $176.56 million.

Ethereum’s clear lead in generated fees suggests that the decentralized application platform rewarded its network validators more than twice as much as miners on the Bitcoin blockchain.

This performance is particularly notable g…

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