🔥 Which blockchain network has generated the most commission income?
The blockchain network of #Ethereum has surpassed #Bitcoin when it comes to fee income generated over the past year, a report from @lookonchain shows.
Lookonchain data indicates that Ethereum has been the #Blockchain that has generated the most commission income, accumulating $2.7 billion dollars. This figure has doubled Bitcoin's fee income, generating just $1.3 billion.
The explanation why Ethereum is the leader in commissions generated is due to its diverse ecosystem of dapps, decentralized finance ( #DeFi ), #NFT and layer 2 solutions. While Bitcoin only generated commissions for transactions, Bitcoin Ordinals and runes.
Taking the values for 1 year, we also have that for the Ethereum blockchain the commissions were expensive due to greater activity on the network. In addition, layer 2 only lowered their commissions in March of this year with the dencun update, so before that, you had to pay more in commissions.
On the other hand, in bitcoin only their commissions and activity on the network increased due to the Bitcoin ordinlas and runas fever, which was a brief trend. At some point I think they may resurface.
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