According to a report by blockchain data firm Token Terminal, Ethereum has generated USD 743 million in fees over the past six months, more than double its nearest competitor, TRON.
The report stresses the importance of fees as a key metric in highlighting which protocols are genuinely in use and signaling continued growth for the ecosystem. Uniswap came in third place with USD 269 million in fees generated over the same period.
Although Ethereum’s average transaction fees have decreased to approximately USD 4.70 from their previous highs, they remain problematic for non-whale users. In response, layer-2 networks have emerged as a promising solution, with Arbitrum One being the sixth-highest generator of fees. However, due to optimistic rollup technology, withdrawing Ethereum from the network may take up to a week, which presents limitations.
Although Ethereum has been dominant in generating fees, its prices have remained steady in the past 24 hours, with a value of around USD 1,859. However, the upcoming Shanghai (Shapella) hard fork on April 12 could lead to market turbulence.
