Top 10 Cryptocurrencies by 1-Year Fee Revenue (Analysis)

Despite the launch of a number of blockchain networks that offer lower fees and faster transaction times, Ethereum’s dominance continues, and users appear willing to pay higher fees.

As such, Ethereum has overtaken Bitcoin in terms of annual fee revenue, according to data compiled by Lookonchain. At $2.728 billion, Ethereum clearly leads the pack in fees, while Bitcoin comes in second, generating $1.30 billion in fees.

According to the popular on-chain analytics platform, the Tron blockchain took third place with $459.39 million in fees during the same period, indicating its growing popularity. Solana and Binance Smart Chain (BSC) took fourth and fifth place with $241.29 million and $176.56 million in fees, respectively.

The list includes Avalanche at No. 6, zkSync Era at No. 7, and Optimism at No. 9, with revenues of $68.83 million, $59.77 million, and $40.4 million, respectively. Polygon came in at No. 10 with just $23.91 million in revenue last year.

Meanwhile, Ethereum also leads the smart contract platform space, capturing 62% of the $695 billion market cap, which, interestingly, represents its peak share for 2024.

Latest CoinMarketCap News analysis It revealed that the network also excelled in revenue generation, accounting for 70% of total revenue among layer 1 blockchains. Furthermore, Ethereum has seen its TVL in DeFi double since the beginning of this year, cementing its dominant position in the industry.

“Although the DeFi sector has seen an overall decline in TVLs since the beginning of this year, Ethereum remains the dominant chain in DeFi, with around 84.3% of the TVL market share, driven primarily by DEX trading and staking.”