According to a recent report by Lookonchain, Ethereum has become the leading blockchain network in terms of fee revenue, generating a staggering $2.72 billion in revenue last year.
This figure put Ethereum ahead of Bitcoin, which ranked second with $1.30 billion in fee income. Tron Network followed in third place with $459.39 million.
Other notable networks include Solana 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.
The Ethereum ecosystem is currently experiencing a period of significant growth, with Layer-2 activity reaching all-time highs. Layer-2 solutions designed to increase Ethereum's scalability are seeing unprecedented usage based on on-chain indicators. Ethereum co-founder Vitalik Buterin recently expressed his admiration for the rapid growth of Ethereum L2 solutions such as Optimism and Base.
In another development, this year the Ethereum network reported its lowest average fees since 2016.
*This is not investment advice.
