Ethereum was the highest-earning blockchain final 12 months, incomes extra in charges in comparison with 2023 regardless of an improve in March that decreased prices on the community.
Ethereum collected $2.48 billion in charges over 2024, essentially the most of any blockchain, adopted by Tron, which introduced in $2.15 billion. Bitcoin (BTC) got here in third place, incomes $922 million, according to a Jan. 21 CoinGecko report.
Ethereum’s payment earnings final 12 months had been a 3% bump from the $2.41 billion earned in 2023.
“This implies that Ethereum has continued to steer in payment earnings regardless of the Dencun improve in March 2024 that decreased L2 transaction prices and the continued consumer migration from the L1 chain to its L2 scaling options,” wrote CoinGecko analysis analyst Lim Yu Qian.
All of the top-earning blockchains for 2024 had been layer 1s, with Ethereum main the pack. Supply: CoinGecko
“Ethereum’s resilient payment earnings additionally is available in distinction to the worth efficiency of ETH, which fell beneath expectations final 12 months,” she added.
Crypto analysts have claimed that Ethereum’s March Dencun upgrade — which supported reduced transaction fees for layer 2 networks to scale the blockchain — could undermine mainnet revenue, negatively impacting the worth of its native token, Ether (ETH).
CoinGecko discovered Ethereum additionally earned $1.17 billion within the first quarter of 2024, which accounted for nearly half of its complete payment earnings for final 12 months.
“This was additionally Ethereum’s highest incomes quarter within the final two years, pushed by elevated onchain exercise amid widespread airdrop packages,” Lim mentioned.
Associated: Ethereum Foundation infighting and drop in DApp volumes put cloud over ETH price
Ethereum co-founder Vitalik Buterin announced significant changes to the Ethereum Foundation’s leadership on Jan. 18 to enhance communication between the inspiration and builders within the ecosystem.
Ethereum core developer Eric Conner announced his departure from the community on Jan. 21 after Buterin dismissed requires a management shakeup and claimed sole authority over the Ethereum Basis.
In complete, throughout 21 layer 1 protocols, $6.60 billion in charges was collected, whereas layer 2 blockchains collectively raked in $294 million, in keeping with CoinGecko.
Supply: CoinGecko
Tron noticed a bump in payment earnings in comparison with 2023, with a 116.7% enhance in payment earnings from $922.08 million in 2023.
Bitcoin additionally skilled progress, growing its annual payment earnings in 2024 by 16% in comparison with 2023.
In the meantime, Solana noticed essentially the most important spike, with a rise of two,838% in its annual payment earnings, from $25 million in 2023 to $750 million recorded in 2024. This got here off the again of the memecoin craze, which additionally pushed the Solana community to a record 100 million active wallets in October.
CoinGecko’s report examined gasoline charges earned by blockchains from Jan. 1, 2023, to Dec. 31, 2024.
Journal: Proposed change could save Ethereum from L2 ‘roadmap to hell’
