Ethereum topped all blockchains in payment income for 2024, producing $2.48 billion over the yr. This robust efficiency in charges, nonetheless, contrasted with ETH’s value, 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 yr.
Ethereum Maintains Charge Dominance Regardless of Dencun Improve
In line with CoinGecko’s newest report, Ethereum’s payment income determine witnessed a 3% enhance 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 principle Layer 1 chain to Layer 2 scaling options, Ethereum maintained its dominance in payment earnings.
CoinGecko discovered that the charges Ethereum earned fluctuated month by month. In 2023, it generated between $91.22 million and $448.70 million monthly, with larger earnings throughout Might’s meme coin frenzy and the market surge on the finish of the yr. In 2024, this vary expanded considerably, with month-to-month earnings falling between $62.82 million and $606.77 million.
Ethereum’s payment income reached $1.17 billion within the first quarter of 2024 and constituted practically half of its annual whole. 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 turned the second highest-earning blockchain and earned $2.15 billion in charges in 2024, a 116.7% rise from $922.08 million the earlier yr. The expansion in Tron’s charges was largely pushed by increasing stablecoin utilization, with month-to-month earnings growing from $38.36 million in January 2023 to $342.54 million in December 2024.
Subsequent up was Solana, whose annual payment earnings skyrocketed by 2,838%, leaping from $25.55 million in 2023 to $750.65 million in 2024. It was the preferred blockchain ecosystem of the yr, with transaction volumes spiking to the purpose of community congestion in April 2024. Solana’s month-to-month payment earnings had 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.
Then again, Bitcoin’s payment earnings grew by virtually 16%, whereas BNB Chain noticed an 8.7% rise, each exhibiting extra reasonable will increase. Bitcoin’s development has been supported by larger exercise from Ordinal NFTs, BRC-20, and Rune tokens, along with surging curiosity in creating on the Bitcoin blockchain.
