Ethereum led the charge with $2.48 billion in fee revenue, reflecting a 3.0% increase from the previous year, despite its lackluster price performance.

The Dencun upgrade in March 2024 helped reduce Layer 2 transaction costs, yet Ethereum maintained its dominance in fee earnings as users migrated to L2 solutions.

Layer 1 blockchains accounted for $6.6 billion of the total fees, while Layer 2 solutions contributed $294.92 million, with Base emerging as the top L2 at $84.78 million, thanks to strong adoption and its integration with Coinbase.

Tron experienced significant growth, earning $2.15 billion in fees, a 116.7% increase from $922 million in 2023, driven by the rising use of stablecoins.

Tron's monthly fee earnings surged from $38 million in January 2023 to a peak of $342 million in December 2024, surpassing Ethereum's performance in the latter half of the year.

Bitcoin also saw a steady rise in activity, earning $922 million in fees, bolstered by the popularity of Ordinal NFTs and BRC-20 tokens.

In 2024, blockchains collectively generated a remarkable $6.9 billion in fees, marking a significant milestone for the digital asset space.

Solana experienced a remarkable 2,838.0% rise in fee earnings, reaching $750.65 million in 2024, establishing itself as the most popular blockchain ecosystem during the year.

Solana's transaction volume peaked in April 2024, leading to network congestion and allowing it to capture over 30% market share in decentralized exchange trading by Q4.

The peak in Solana's fees and revenue occurred on January 20, 2025, following its all-time high on January 19, 2025, fueled by the rise of TRUMP and MELANIA coins.

Overall, four of the top ten earners in the blockchain fee landscape were Layer 2 solutions, highlighting their growing importance in the ecosystem.

Despite Ethereum's strong fee earnings, its price performance was disappointing, as it failed to reach new highs in 2024, unlike many other cryptocurrencies.