Ethereum Reports $2.48 Billion in Revenue, Leading Blockchain Earnings in 2024
In 2024, the Ethereum blockchain generated $2.48 billion in fee revenue, leading all networks and earning nearly three times more than Solana's $755 million. Key points include:
- Ethereum's fees increased by 3% from $2.41 billion in 2023.
- Tron ranked second with $2.15 billion, a 116.7% increase from the previous year.
- Bitcoin placed third, generating $922 million, reflecting a 16% growth.
- Solana’s fees surged by 2,838% from $25 million in 2023 due to a memecoin boom.
- A total of $6.60 billion was collected across 21 layer-1 protocols, with an additional $294 million from layer-2 blockchains.
The Dencun upgrade in March aimed to lower transaction costs for layer-2 solutions but raised concerns about its impact on Ethereum's mainnet revenue. However, Ethereum earned $1.17 billion in Q1 2024, marking its highest earnings in two years, attributed to increased onchain activity.
Leadership changes were announced by Ethereum co-founder Vitalik Buterin to enhance communication within the Ethereum Foundation.
Source: CoinGecko