From Investing.com: 2024-07-03 10:00:25

Ethereum surges ahead of Bitcoin in fee income by 100%, reaching $2.73 billion compared to Bitcoin’s $1.3 billion. Tron Network lands in third with $460 million. Other networks like Solana and Binance also contribute significantly to the fee income landscape, with Ethereum leading due to its diverse applications.

Ethereum’s dominance in fee income is attributed to its support for DeFi platforms, NFTs, and various applications, leading to higher transaction volume. Its versatility and widespread use make it more profitable than Bitcoin, which primarily serves as a store of value and medium of exchange. Ethereum’s revenue is bolstered by diverse applications compared to Bitcoin.

Bitcoin’s fee income, while still significant at over $1 billion, is influenced by network congestion and BTC price fluctuations. Its revenue is primarily driven by its role as a digital asset and medium of exchange. However, Bitcoin’s lack of diverse applications like Ethereum results in lower overall fee income.

Read more at Investing.com: Ethereum Skyrockets 100% Against Bitcoin in Annual Revenue By U.Today