Blockchain networks collect nearly $7b in fees in 2024, data shows

Ethereum’s dominance in fee income remained unchallenged in 2024, with a total of almost $2.5 billion, more than double that of TRON.

As blockchain activity exploded last year, fees exploded, reaching $6.89 billion, according to CoinGecko. report. Ethereum (ETH) remained well ahead of the pack, raking in a whopping $2.48 billion in gas fees.

TRON (TRX) was not far behind, bringing in $2.15 billion in fees, a huge jump from 2023. Analysts at CoinGecko point out that TRON’s strong hold on the stablecoin market is the main driver, with monthly profits constantly increasing throughout the year. On average, Ethereum earned $6.79 million per day, while TRON followed with $5.89 million.

CoinGecko says the study examined blockchain fees from January 1, 2023 to December 31, 2024, based on TokenTerminal and Artemis data, excluding blockchains with insufficient and publicly available fee data.

Solana (GROUND), popular for meme coins, has also seen a massive increase in fee income. The network’s profits jumped 2,838% to $750.65 million. Meanwhile, Bitcoin (BTC), with a 15.9% growth in fees, earned a total of $922.89 million. CoinGecko claims that this increase is due to “increased activity in Ordinal NFT, BRC-20, and Rune tokens, as well as rapidly growing interest in building on Bitcoin.”

In the layer-2 space, Coinbase’s Base network led the charge, earning $84.78 million in fees in 2024, an increase of 548.2% from the previous year. While Ethereum still dominates fee revenue, other Layer 2s like Arbitrum, Linea, and Optimism make their mark with $44.10 million, $39.20 million, and $37.97 million, respectively.

CoinGecko says that fluctuations in Layer 2 fee revenue “appear for now to primarily reflect on-chain activity driven by token airdrops and incentive marketing programs,” adding that “it remains to be seen how much Layer 2 chains can win in the long run. »