• Ethereum and Tron will lead blockchain price revenue in 2024, however competitors will intensify.
• Solana’s explosive improve in charges contrasts with BNB Chain’s modest improve of 8.7%.
• Layer 2 blockchains like Base have proven sturdy efficiency, demonstrating their rising dominance.

Ethereum, TRON, and Solana will cleared the path by way of blockchain transaction price revenue in 2024, with Ethereum main the way in which. Regardless of its development, the BNB chain nonetheless lags behind these large gamers, in keeping with Coingecko knowledge.

Transaction charges exceeded throughout Layer 1 (L1) and Layer 2 (L2) blockchains $6.9 billion 2024 presents a quickly altering scenario. Ethereum stays the chief, however faces stiff competitors from newer blockchains corresponding to Tron and Solana.

Ethereum and Tron lead the pack

Ethereum generated $2.48 billion in charges and maintained its place as the highest earner. This represents a 3.0% improve from 2023, whilst Ethereum’s Dencun improve lowers Layer 2 (L2) transaction prices.

Tron grew by a formidable 116.7%, incomes $2.15 billion. This surge was attributed to the elevated use of stablecoins on the community, which elevated Tron’s price revenue. Each Ethereum and Tron have proven constant development, however Ethereum’s broader ecosystem maintains its dominant place.

Associated: Crypto Safety Report: August Losses Lower, However 2024 Complete Will Exceed $1.2 Billion

Solana’s explosive development

Solana noticed a large 2,838% improve in annual price revenue. This equates to $750.65 million in 2024, up from simply $25.55 million in 2023. The surge in transaction volumes accelerated the rise of blockchain, resulting in community congestion in April 2024. Regardless of this development, Solana’s month-to-month price revenue has fluctuated, peaking at $197.5 million in November. till settling in December for about $120 million.

BNB chain: room for enchancment

BNB Chain generated $194.78 million in charges in 2024, an 8.7% improve over the earlier yr. Whereas this development is constructive, it doesn’t match the expansion of Tron and Solana. This implies that BNB Chain might want to discover new methods to draw greater transaction volumes and consumer engagement with the intention to successfully compete with Ethereum, Tron, and Solana in 2025.

Associated: BNB Chain spends $1 billion on BNB, goals to provide 100 million items

Layer 2 blockchain exhibits sturdy efficiency

Base led the Layer 2 house, incomes $84.78 million in charges. This can be a 548% improve from 2023 and displays sturdy adoption following the mixing with Coinbase.

Different L2s corresponding to Arbitrum and Optimism additionally earned giant charges, however Arbitrum noticed a 30% decline. As L2 options mature, they’re prone to play a bigger function in blockchain price era, which might pose challenges to L1 sooner or later.