Company Xs annual revenue soars hitting a peak of 27 billion
The Ethereum blockchain has emerged as the top revenue generator among major blockchains, surpassing its competitors by a significant margin. Recent data from Lookonchain reveals that Ethereum generated $2.72 billion in revenue over the course of a year, surpassing the Bitcoin network by a staggering $1.42 billion. In comparison, Bitcoin accumulated $1.3 billion in revenue during the same period.
Additionally, Ethereum continues to dominate the decentralized finance (defi) sector, as indicated by data from Defi Llama. It currently holds a total value locked (TVL) of $58.4 billion, accounting for 60.9% of the entire defi market. In the past 30 days alone, the blockchain has generated $131 million in fee income, further solidifying its leading position.
Bitcoin, on the other hand, currently has a TVL of $1 billion, trailing behind Ethereum. However, Ethereum’s fee revenue has witnessed a remarkable 155% year-over-year increase in Q1 of this year, coinciding with the bullish trend in the crypto market.
In terms of revenue, Tron ranks third with $459 million over the course of a year. Solana and BSC also recorded substantial fee incomes of $241 million and $176 million, respectively.
Interestingly, Tron holds the second-largest position in the defi scene, boasting a TVL of $7.7 billion. BSC and Solana secure the third and fourth spots with TVLs of $4.8 billion and $4.5 billion, according to Defi Llama.
Other notable blockchains that made it to the top 10 in terms of revenue include Avalanche, zkSync Era, Optimism, and Polygon, with one-year revenues of $68 million, $59 million, $40 million, and $23 million, respectively.
In related news, Bitcoin miner Genesis Digital Assets is reportedly considering an initial public offering (IPO) in the United States, further highlighting the growing interest and potential of the cryptocurrency industry.
