Reaching New Heights Secondtier Solution Propels Ethereum Transaction Fees

Coin World reported:
Ethereum’s annual fee income is ranked first, generating more than twice the fees of the Bitcoin blockchain during the same period. According to a recent post by the blockchain analysis platform Lookonchain, Ethereum earned $2.728 billion in fees last year, while Bitcoin earned $1.302 billion.
Meanwhile, the Tron Network ranked third with a network fee of $459.39 million, followed by Solana with $241.29 million and Binance Smart Chain with $176.56 million.
Ethereum’s significant lead in fee generation indicates that decentralized application platforms reward their network validators more than Bitcoin blockchain miners.
Considering that the fee for the Ethereum network reached its lowest level in four years after the Dencun upgrade earlier this year, this performance is particularly remarkable. By the end of June, Ethereum’s gas fee had dropped to 7.32 Gwei, about a 50% decrease from January 1st’s 14.91 Gwei.
However, second-layer protocols are thriving in the Ethereum ecosystem, setting new records for network activity. Ethereum co-founder Vitalik Buterin recently acknowledged the rapid growth of well-known Ethereum L2 solutions such as Optimism and Base. Analysts attribute the surge in Ethereum network fees to the increase in L2 activity.
The increasing popularity of L2 protocols highlights their role in alleviating network congestion and reducing gas fees. Other chains in the top ten network fee income on Lookonchain include Avalanche, zkSync Era, Optimism, and Polygon.
Ethereum’s dominant position in fee income, even with the decrease in gas fees, demonstrates its robust ecosystem and rising network adoption. The rise of second-layer solutions further strengthens Ethereum’s position.