Blockchain activity increased dramatically last year, with total fee revenue reaching $6.89 billion. According to the report published by CoinGecko, Ethereum maintained its leadership with a huge gas fee of $2.48 billion. TRON ranked second, generating $2.15 billion in revenue, making a big jump compared to 2023.

CoinGecko analysts cited TRON’s strong position in the stablecoin market as the main reason for this success, noting that the network’s monthly earnings increased steadily throughout the year. Ethereum earned an average of $6.79 million per day, while TRON generated $5.89 million per day.

CoinGecko announced that it used TokenTerminal and Artemis data when analyzing blockchain fee revenues between January 1, 2023 and December 31, 2024, and excluded blockchains with insufficient public data from the review.

Solana experienced a noticeable increase in fee income in 2024, especially with the popularity of meme coins. The network’s earnings increased by 2,838% to $750.65 million. On the other hand, Bitcoin increased its fee revenue by 15.9%, earning a total of $922.89 million.

CoinGecko stated that this growth of Bitcoin is due to the increasing demand for development on Bitcoin, as well as the interest in Ordinal NFTs, BRC-20 and Rune tokens.

Among Layer-2 solutions, Coinbase’s network, Base, achieved a fee income of $ 84.78 million in 2024, representing a 548.2% increase compared to the previous year.

While Ethereum still has the largest share of fee revenue, other layer-2 solutions such as Arbitrum ($44.10 million), Linea ($39.20 million), and Optimism ($37.97 million) are also on the rise.

According to CoinGecko’s analysis, the volatility of fee income on layer-2 networks is largely driven by on-chain activity driven by token airdrops and incentive programs. The report underlined that it is not yet clear how much sustainable income layer-2 networks can provide in the long term.

As a result of this intense activity on the blockchain, Ethereum maintains its leading position in the industry, although overall fee revenues have increased significantly. However, TRON’s dominance in the stablecoin market and the rapidly growing activities of other networks indicate that this competition will become increasingly fierce.

Additionally, the growth of networks such as Solana and Bitcoin reflects the interest of users and developers in different blockchains. This proves that the ecosystem is constantly evolving and new players are entering the scene.