Regardless of the launch of a slew of blockchain networks providing decrease charges and quicker transaction instances, Ethereum’s dominance continues, and customers appear keen to pay increased charges.

As such, Ethereum has surpassed Bitcoin by way of 1-year payment income, in accordance with information compiled by Lookonchain. With a whopping $2.728 billion, Ethereum clearly leads the pack in charges, whereas Bitcoin follows in second place, producing $1.30 billion in charges.

Based on the favored on-chain analytics platform, the Tron blockchain secured the third spot with $459.39 million in charges throughout the identical interval, indicating its rising reputation. Solana and Binance Sensible Chain (BSC) claimed the fourth and fifth spots with $241.29 million and $176.56 million in one-year payment income, respectively.

The listing options Avalanche on the sixth, zkSync Period on the seventh, and Optimism on the ninth, with $68.83 million, $59.77 million, and $40.4 million, respectively. Polygon claimed the tenth spot with simply $23.91 million in charges up to now 12 months.

In the meantime, Ethereum additionally leads the good contract platform area, claiming 62% of the $695 billion market cap, which, curiously, represents its peak share for 2024.

The newest CoinMarketCap’s analysis revealed that the community has additionally outperformed in income era, accounting for 70% of all revenue amongst Layer 1 blockchains. Moreover, Ethereum has witnessed its DeFi TVL double because the starting of this 12 months, thereby solidifying its dominant place within the trade.

“Though the DeFi sector has seen an total discount in TVLs because the starting of this 12 months, Ethereum continues to be the dominating chain in DeFi, with c.84.3% of TVL market share, primarily pushed by DEX buying and selling and staking.”