Ethereum Leads Blockchain Fee Earnings Despite Cost-Cutting Upgrade

Ethereum remained the top-earning blockchain in 2024, collecting $2.48 billion in fees, a 3% increase from 2023, despite the cost-reducing Dencun upgrade in March. The upgrade lowered Layer 2 transaction fees, yet Ethereum’s mainnet revenue remained resilient. Tron followed with $2.15 billion, while Bitcoin earned $922 million. Ethereum’s highest-earning quarter was Q1 2024, driven by increased on-chain activity and airdrops. Notably, Solana saw a 2,838% surge in fee earnings, hitting $750 million. Across 21 Layer 1 protocols, $6.6 billion in fees were collected, underscoring Ethereum’s dominance and blockchain growth trends.