Ethereum Blockchain Generates 2728 Billion Annually in Fees Over Five Times Closest Competitor ETH Lookonchain

Reported by CoinWorld:
The leading smart contract platform Ethereum (ETH) generates far more annual fee revenue than any other blockchain.
New data from cryptocurrency tracking company Lookonchain shows that the top altcoin’s annual fee revenue is $2.728 billion, more than double that of its closest competitor Tron (TRX), which has an annual revenue of $459.39 million.
Ethereum’s revenue is also more than double that of Bitcoin (BTC), the highest market cap crypto asset, with a market cap of $1.3 billion for the same period.
Source: Lookonchain/X
Other top fee chains analyzed by Lookonchain include the smart contract platform Solana (SOL), with an annual revenue of $241.29 million, Binance Smart Chain (BSC) at $176.56 million, and the Layer 1 blockchain Avalanche (AVAX) at $68.83 million.
Additionally, the ETH Layer 2 scaling solutions zkSync Era, Optimism (OP), and Polygon (MATIC) respectively earned $59.77 million, $40.40 million, and $23.91 million.
Ethereum users pay gas fees in ETH, priced in gwei, to successfully execute transactions and smart contracts on the Ethereum blockchain. Gas fees depend on supply, demand, and network capacity.
According to Ethereum data tracker Etherscan, the current leading gas guzzler is the decentralized exchange (DEX) protocol Uniswap (UNI), which consumed 129.17 ETH worth $401,815.53 in the past 24 hours.
As per Etherscan, the current average gas fee on the Ethereum blockchain is 6 gwei, equivalent to $0.39.
At the time of writing, Ethereum is trading at $3,119, down 5.4% in the past 24 hours
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Generated image: MidJourney