Ethereum has emerged as the top cryptocurrency in terms of fee revenue over the past year, surpassing Bitcoin with a total of $2.728 billion in fees. Despite the rise of blockchain networks offering lower fees and faster transactions, Ethereum’s dominance remains strong, with users willing to pay higher fees for its services.
Following Ethereum and Bitcoin, Tron secured the third spot with $459.39 million in fees, indicating a growing popularity among users. Solana and Binance Smart Chain (BSC) also made it to the top five, generating $241.29 million and $176.56 million in one-year fee revenue, respectively.
Avalanche, zkSync Era, and Optimism claimed the sixth, seventh, and ninth spots on the list, with $68.83 million, $59.77 million, and $40.4 million in fees, respectively. Polygon rounded out the top ten with $23.91 million in fees over the past year.
In addition to fee revenue, Ethereum leads the smart contract platform space, capturing 62% of the $695 billion market cap. CoinMarketCap’s latest analysis shows that Ethereum has outperformed in revenue generation, accounting for 70% of all income among Layer 1 blockchains. The network has also seen its DeFi TVL double since the beginning of the year, solidifying its position as a dominant player in the industry.
Despite a reduction in TVLs within the DeFi sector overall, Ethereum maintains a strong presence with around 84.3% of the market share, driven by DEX trading and staking activities.
The data compiled by Lookonchain and other analytics platforms highlight Ethereum’s continued success in the cryptocurrency market, showcasing its resilience and popularity among users. As the industry continues to evolve, Ethereum’s position at the top remains unchallenged, with promising growth prospects on the horizon.
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