Ethereum (ETH), a leading smart contract platform, outpaces all other blockchains in annual fee revenue, new data from crypto tracker Lookonchain reveals. Ethereum earns $2.728 billion annually from fees, more than double its closest competitor, Tron (TRX), which earns $459.39 million. This also exceeds Bitcoin’s (BTC) $1.3 billion in annual fees.

Lookonchain’s analysis further highlights Solana (SOL) generating $241.29 million annually, Binance Smart Chain (BSC) with $176.56 million, and Avalanche (AVAX) with $68.83 million. Ethereum’s layer-2 scaling solutions zkSync, Optimism (OP), and Polygon (MATIC) contribute $59.77 million, $40.4 million, and $23.91 million, respectively.

Gas fees on Ethereum, paid in ETH and measured in gwei, fund transactions and smart contract executions. Fees vary based on network conditions including supply and demand. Etherscan data identifies Uniswap (UNI) as the top gas consumer, burning 129.17 ETH valued at $401,815.53 over the past 24 hours.

Presently, the average gas fee on Ethereum stands at 6 gwei, equivalent to $0.39. Ethereum’s current trading price is $3,119, marking a 5.4% decrease in the last 24 hours.

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