According to the latest data from Defillama, Ethereum has dropped out of the top 20 cryptocurrencies by 24-hour protocol revenue, now ranking 21st. Over the past day, Ethereum generated $688,000 in transaction fees**, but its **actual revenue** stood at just **$180,500.
Key Insights
- Revenue Decline: Ethereum’s revenue drop highlights increasing competition in the DeFi and Layer-2 ecosystems.
- Fee Structure: High gas fees continue to be a pain point, pushing users toward more cost-efficient blockchains.
- Market Position: Despite its weakened revenue ranking, Ethereum maintains dominance in TVL (Total Value Locked) and developer activity.
Why Ethereum’s Revenue Matters
- Investor Sentiment: Revenue metrics reflect network utility and adoption.
- Ecosystem Health: Declining revenue may signal user migration to alternatives.
- Long-Term Viability: Ethereum’s upcoming scaling solutions (e.g., EIP-4844) could reverse this trend.
Top-Performing Protocols
While Ethereum struggles, other chains are gaining traction:
| Rank | Protocol | 24-H Revenue |
|------|---------------|-------------|
| 1 | Bitcoin | $1.2M |
| 2 | Solana | $950K |
| 3 | BSC | $820K |
| ... | ... | ... |
| 21 | Ethereum | $180K |
👉 Explore top revenue-generating blockchains
FAQs
Q: Will Ethereum regain its top revenue position?
A: Likely—once Proto-Danksharding reduces fees and boosts scalability.
Q: What chains are benefiting from Ethereum’s revenue decline?
A: Solana, Avalanche, and BSC are seeing higher adoption due to lower costs.
Q: How does Ethereum’s revenue compare to its all-time high?
A: At its peak, Ethereum earned $50M+ daily—today’s figures are ~99% lower.
👉 Learn how to track crypto revenues
Final Thoughts
Ethereum’s short-term revenue dip doesn’t negate its long-term potential. With upgrades on the horizon, it remains a cornerstone of Web3 infrastructure. Stay informed—market dynamics shift fast!