Ethereum’s On-Chain Revenue Surpasses Other Major Cryptocurrencies
According to reports, according to Cryptofees.info data, in the last 24 hours, the revenue of Ethereum\’s on-chain service charges was $5441941.16, the revenue …
According to reports, according to Cryptofees.info data, in the last 24 hours, the revenue of Ethereum’s on-chain service charges was $5441941.16, the revenue of Uniswap’s on-chain service charges was $1685816.61, the revenue of BSC’s on-chain service charges was $587339.16, the revenue of Bitcoin’s on-chain service charges was $480518.81, the revenue of SushiSwap’s on-chain service charges was $425726.94, and the revenue of GMX’s on-chain service charges was $258434.93.
In the past 24 hours, the GMX on-chain service fee revenue decreased to $250000
Interpretation of the news:
The Cryptofees.info data has revealed that Ethereum has generated a significant amount of revenue in the past 24 hours, surpassing other major cryptocurrencies. The total revenue of Ethereum’s on-chain service charges was recorded to be $5,441,941.16. This represents a significant increase in revenue when compared to other popular cryptocurrencies like Bitcoin, which only generated $480,518.81 in the same time period.
Uniswap, which is a decentralized exchange running on the Ethereum blockchain, generated a revenue of $1,685,816.61 in the last 24 hours. Binance Smart Chain (BSC) came third, having generated $587,339.16 in on-chain service charges.
SushiSwap, a token-swapping platform that operates similarly to Uniswap, generated $425,726.94. Finally, GMX generated $258,434.93 in on-chain service charges in the past 24 hours.
The increase in Ethereum’s revenue can be attributed to the recent surge in the adoption of decentralized finance (DeFi) platforms, which run on the Ethereum blockchain. These DeFi platforms enable users to lend, borrow, and trade cryptocurrencies without the need for intermediaries like banks. This has led to an increase in transaction volumes, which in turn has generated more revenue from on-chain service charges.
It is worth noting that Ethereum’s on-chain fees have been a topic of discussion in recent months due to the high gas fees required to process transactions on the network. Users and developers have been exploring various solutions to mitigate the high fees, including layer-two scaling solutions like Polygon.
In conclusion, the data provided by Cryptofees.info shows that Ethereum is currently the leader in on-chain service charges, followed by Uniswap and BSC. The increase in Ethereum’s revenue is indicative of the growing adoption of DeFi platforms, which are running on the Ethereum blockchain. However, the issue of high gas fees on the network will need to be addressed to ensure that the platform remains accessible and affordable for all users.
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