Ethereum has surpassed Bitcoin in payment revenue over the previous 12 months by an epic 100%, in line with the latest report from Lookonchain. Thus, its community has recorded $2.73 billion in payment revenue, essentially the most within the trade. Bitcoin, in second place, generated $1.3 billion. Closing the highest three is Tron Community, with virtually $460 million.
Different networks additionally contributed to the general payment revenue panorama. Solana generated $241.3 million, Binance’s chain gathered $176.6 million and Avalanche recorded $68.83 million. Moreover, the zkSync Period earned almost $60 million, Optimism $40.4 million and Polygon $23.9 million.
Listed below are the highest 10 chains by 1-year payment income.#Ethereum earns a payment of $2.728B per 12 months, #Bitcoin earns a payment of $1.302B per 12 months, and #TronNetwork earns a payment of $459.39M per 12 months. pic.twitter.com/ixAiP9g8JA
— Lookonchain (@lookonchain) July 3, 2024
As the information highlights, Ethereum has a major lead, doubling Bitcoin’s income. This result’s attributed to a broader vary of functions and providers on the community of the primary altocin, with increased utilization and transaction charges consequently.
Positive win?
Ethereum’s ecosystem helps decentralized finance platforms, NFTs and numerous functions, all of which contribute to elevated transaction quantity and payment revenue. That is what has positioned ETH as a extra versatile and broadly used community in comparison with Bitcoin.
In return, Bitcoin’s income, whereas nonetheless over a billion {dollars}, is primarily pushed by its position as a digital retailer of worth and medium of trade. Its transaction charges are affected by community congestion and the value of BTC itself, which might fluctuate considerably.
Nonetheless, it nonetheless lacks the in depth vary of functions discovered within the Ethereum ecosystem, leading to decrease general payment revenue.