Blockchain networks collect nearly $7b in fees in 2024, data shows

Ethereum’s dominance in price earnings remained unchallenged in 2024, with a complete of just about $2.5 billion, greater than double that of TRON.

As blockchain exercise exploded final yr, charges went via the roof, hitting $6.89 billion, in line with a CoinGecko report. Ethereum (ETH) stayed means forward of the pack, pulling in a large $2.48 billion in fuel charges.

TRON (TRX) wasn’t far behind, pulling in $2.15 billion in charges, an enormous leap from 2023. CoinGecko analysts level to TRON’s robust grip on the stablecoin market as the principle driver, with month-to-month earnings steadily climbing all year long. On common, Ethereum made $6.79 million every day, whereas TRON adopted with $5.89 million.

CoinGecko says the examine examined blockchain charges from Jan. 1, 2023 to Dec. 31, 2024, primarily based on TokenTerminal and Artemis knowledge, excluding blockchains with inadequate publicly accessible price knowledge.

Blockchain networks ranked by price earnings | Supply: CoinGecko

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Solana (SOL), widespread for meme cash, additionally noticed a large surge in price earnings. The community’s earnings jumped by a jaw-dropping 2,838% to achieve $750.65 million. In the meantime, Bitcoin (BTC), with its 15.9% progress in charges, earned $922.89 million in whole. CoinGecko says the surge was pushed by “elevated exercise from Ordinal NFTs, BRC-20 and Rune tokens, in addition to quickly rising curiosity to construct on Bitcoin.”

Within the layer-2 area, Coinbase’s community Base led the cost, incomes $84.78 million in charges in 2024, marking a 548.2% enhance from the earlier yr. Whereas Ethereum nonetheless dominates price earnings, different layer-2s like Arbitrum, Linea, and Optimism are making their mark with $44.10 million, $39.20 million, and $37.97 million, respectively.

CoinGecko says that fluctuations in layer-2 price earnings “for now appear to primarily replicate on-chain exercise pushed by token airdrop and incentive advertising and marketing packages,” including that “it stays to be seen how a lot charges layer-2 chains can earn in the long run.”

Learn extra: How layer 1 blockchains are main the 2024 bull run – and who’s successful