Exploration into Crypto Revenue Streams Reveals Altcoin Dominance: Bitcoin Trails
In a recent publication by Lookonchain, a pioneer in crypto analytics, a breakdown of the top-earning altcoin networks has been disclosed.
Authored by Mete Demiralp
03.07.2024 – 17:20
Updated: 1 hour ago
According to Lookonchain’s latest findings, Ethereum emerges as the supreme blockchain network in revenue collection, amassing a remarkable $2.72 billion in profits over the past year. This impressive feat places Ethereum securely ahead of Bitcoin, which trails in second place with $1.30 billion in revenue. Not far behind is the Tron Network, claiming the third spot with a substantial $459.39 million.
Among other significant players, Solana stands at $241.29 million, BSC at $176.56 million, Avalanche at $68.83 million, zkSync Era at $59.77 million, Optimism at $40.4 million, and Polygon at $23.91 million.
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The Ethereum ecosystem is presently witnessing remarkable expansion, notably in Layer-2 innovation, with activity hitting record peaks. Layer-2 solutions, devised to enhance Ethereum’s scalability, are observing unprecedented adoption rates based on on-chain metrics. Noteworthy is Ethereum co-founder Vitalik Buterin’s commendation of the swift progression of Ethereum L2 solutions like Optimism and Base.
Additionally, the Ethereum network has disclosed its lowest average fees since 2016 this year.
*This publication does not constitute financial advice.
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