The post Ethereum Dominates with $2.728B Fee Revenue, Surpassing Bitcoin and Leading DeFi Market appeared on BitcoinEthereumNews.com.

Despite the emergence of numerous blockchain networks boasting lower fees and quicker transaction times, Ethereum continues to dominate the market, with users opting to pay higher fees. Data from Lookonchain reveals that Ethereum has surpassed Bitcoin in 1-year fee revenue, accumulating a staggering $2.728 billion in fees, while Bitcoin generated $1.30 billion in the same period. The Tron blockchain took the third spot, bringing in $459.39 million in fees, showcasing its rising popularity. Solana and Binance Smart Chain (BSC) came in fourth and fifth with $241.29 million and $176.56 million, respectively. Ethereum retains its market supremacy, surpassing Bitcoin in 1-year fee revenue and maintaining a leading position among blockchain networks. Ethereum’s Dominance in Fee Revenue and Market Share Despite the stiff competition from new blockchain networks offering lower fees and faster transactions, Ethereum’s dominance remains unchallenged. According to Lookonchain, Ethereum surpassed Bitcoin in 1-year fee revenue, amassing an impressive $2.728 billion compared to Bitcoin’s $1.30 billion in fees. Tron’s Rising Popularity and Fee Revenue The blockchain network Tron secured the third position, accumulating an impressive $459.39 million in fee revenue over the past year. This notable achievement underscores Tron’s growing adoption and influence in the blockchain space. Solana and Binance Smart Chain Performance Solana and Binance Smart Chain continue to make significant strides in the blockchain ecosystem, ranking fourth and fifth in fee revenue with $241.29 million and $176.56 million, respectively. Their consistent performance demonstrates their resilience and potential in the market. Other Noteworthy Blockchain Networks Avalanche, zkSync Era, Optimism, and Polygon also contributed notably to the fee revenue landscape. Avalanche took the sixth spot with $68.83 million, followed by zkSync Era with $59.77 million, Optimism with $40.4 million, and Polygon rounding out the list with $23.91 million in fees over the past year. Ethereum’s Leading Position in Smart Contract…

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Filed under: News - @ July 8, 2024 1:26 am