Home » Latest News » Ethereum, Tron, and Solana Generate $6.9 Billion in Blockchain Fees in 2024

Ethereum, Tron, and Solana Generate $6.9 Billion in Blockchain Fees in 2024

The blockchain industry recorded the accumulation of $6.9 billion in fees for 2024 as a major year for digital assets. Ethereum, Tron, and Solana led the growth, with Ethereum taking the lead at $2.48 billion in gas fees. This accounted for a modest 3% increase despite the dismal Ethereum price performance.

Graph showing blockchain fee growth in 2024 for Ethereum, Tron, and Solana.
Source: https://coindcx.com/blog/cryptocurrency/ethereum-vs-solana-vs-polygon/

Tron followed closely, earning $2.15 billion in fees—a staggering 116.7% jump from $922 million in 2023. Tron’s surge was fueled by rising stablecoin usage, with fee earnings peaking at $342 million in December 2024.

Bitcoin came third, with $922 million in fees driven by Ordinal NFTs, BRC-20 tokens, and Bitcoin-based apps.

Solana posted the most remarkable growth, with a 2,838% rise in fee earnings to $750.65 million. Its share of decentralized exchange trading climbed past 30% in Q4. The network also set a new fee record on January 20, spurred by interest in TRUMP and MELANIA coins.

Layer 1 blockchains dominated the scene, accounting for $6.6 billion in fees. However, layer 2 solutions like Base, Arbitrum, and Optimism also made their mark. Layer 2 networks collectively earned $294.92 million in fees, with Base leading at $84.78 million thanks to its Coinbase integration.

As the blockchain sector grows, Ethereum, Tron, and Solana continue to shape its economic landscape, setting the stage for further developments in 2025.

January 21, 2025  at 2:17 pm

Updated January 21, 2025  at 2:17 pm

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