Ethereum (ETH), the leading platform for smart contracts, outpaces all other blockchains in annual fee revenue generation. According to recent insights from crypto analytics firm Lookonchain, Ethereum’s annual fee revenue stands at a staggering $2.728 billion. This figure is over double that of its nearest competitor, Tron (TRX), which garners $459.39 million a year.

In comparison to Bitcoin (BTC), the premier cryptocurrency by market capitalization, Ethereum’s fee revenue is just over twice as much, with Bitcoin earning $1.3 billion in the same period.

*Source: Lookonchain/X*

Lookonchain’s analysis also highlights other significant fee generators in the blockchain space, including Solana (SOL), which brings in $241.29 million annually, Binance Smart Chain (BSC) with $176.56 million, and the layer-1 blockchain Avalanche (AVAX) with $68.83 million in yearly revenue.

Layer-2 scaling solutions for Ethereum, such as zkSync Era, Optimism (OP), and Polygon (MATIC), also make notable contributions, with revenues of $59.77 million, $40.4 million, and $23.91 million, respectively.

Transaction and smart contract execution on the Ethereum network require gas fees, payable in ETH and denominated in gwei. These fees fluctuate based on network demand, supply, and capacity.

Etherscan, a dedicated Ethereum data service, reports that the decentralized exchange (DEX) protocol Uniswap (UNI) is the current top consumer of gas, having used 129.17 ETH valued at $401,815.53 in the past 24 hours.

The average gas fee on Ethereum is currently 6 gwei, equivalent to $0.39, as per Etherscan’s data.

At the time of writing, Ethereum’s trading price is $3,119, reflecting a 5.4% decline over the last 24 hours.

Stay informed – subscribe to receive email updates directly to your inbox. Check out the latest price movements, and follow us on X, Facebook, and Telegram. Dive into The Daily Hodl Mix for more content.

**Disclaimer:** The views at The Daily Hodl are not financial advice. Before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets, investors are advised to conduct thorough research. The Daily Hodl does not endorse the purchase or sale of any cryptocurrencies or digital assets and is not an investment advisor. Transfers and trades are at your own risk, and The Daily Hodl is not responsible for any potential losses. The Daily Hodl is involved in affiliate marketing.

*Generated Image: Midjourney*