Layer 2

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

Published

8 months ago

January 23, 2025

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

When blockchain exercise exploded final yr, charges skyrocketed, reaching $6.89 billion, in keeping with CoinGecko. report. Ethereum (ETH) stayed far forward of the competitors and picked up a whopping $2.48 billion in fuel charges.

TRON (TRX) wasn’t far behind, raking in $2.15 billion in charges, an enormous soar from 2023. CoinGecko analysts level to TRON’s sturdy maintain on the stablecoin market as the principle driver, with month-to-month income rising steadily all year long. On common, Ethereum earned $6.79 million each day, whereas TRON adopted with $5.89 million.

CoinGecko says the examine examined blockchain charges from January 1, 2023 to December 31, 2024, based mostly on TokenTerminal and Artemis knowledge, excluding blockchains with inadequate publicly accessible payment knowledge.

Blockchain Networks Ranked by Charges | Supply: Coin gecko

Solana (SOL), fashionable for meme cash, additionally noticed an enormous enhance in payment revenue. The community’s revenues rose a whopping 2,838% to $750.65 million. In the meantime, Bitcoin (BTC), with a 15.9% development in charges, earned a complete of $922.89 million. CoinGecko says the rise was pushed by “elevated exercise in Ordinal NFTs, BRC-20 and Rune tokens, in addition to quickly rising curiosity in constructing on Bitcoin.”

Within the layer 2 house, Coinbase’s community Base led the cost, incomes $84.78 million in charges in 2024, up 548.2% from the earlier yr. Whereas Ethereum nonetheless dominates payment income, different tiers like Arbitrum, Linea, and Optimism are making their mark with $44.10 million, $39.20 million, and $37.97 million, respectively.

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CoinGecko says that fluctuations in layer 2 payment income “for now seem to primarily mirror on-chain exercise pushed by token airdrop and incentive advertising packages,” including that “it stays to be seen what number of charges layer 2 chains can earn in the long run.”