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On-chain service charges provide significant revenue for top cryptocurrencies

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According to reports, according to Cryptofees.info data, in the last 24 hours, the revenue of Ethereum\’s on-chain service charges was $5441941.16, the revenue …

On-chain service charges provide significant revenue for top cryptocurrencies

According to reports, according to Cryptofees.info data, in the last 24 hours, the revenue of Ethereum’s on-chain service charges was $5441941.16, the revenue of Uniswap’s on-chain service charges was $1685816.61, the revenue of BSC’s on-chain service charges was $587339.16, the revenue of Bitcoin’s on-chain service charges was $480518.81, the revenue of SushiSwap’s on-chain service charges was $425726.94, and the revenue of GMX’s on-chain service charges was $258434.93.

In the past 24 hours, the GMX on-chain service fee revenue decreased to $250000

Interpretation of the news:


The message reports on the on-chain service charges generated by some of the most popular cryptocurrencies in the last 24 hours. According to data from Cryptofees.info, Ethereum’s on-chain service charges generated the highest revenue of $5,441,941.16, followed by Uniswap’s $1,685,816.61, BSC’s $587,339.16, Bitcoin’s $480,518.81, SushiSwap’s $425,726.94, and GMX’s $258,434.93.

The high revenue generated by on-chain service charges highlights the importance of these fees in the overall revenue generation of cryptocurrencies. On-chain service charges are fees charged for transactions executed on the blockchain, such as buying or selling cryptocurrencies or executing smart contracts. These fees are used to incentivize miners to process transactions and secure the network.

Ethereum’s dominance in on-chain service charges is not surprising, given that it is the most widely used platform for smart contract development and decentralized applications (dapps). Uniswap, an automated market maker (AMM) based on the Ethereum network, also generated significant revenue, reflecting the growing popularity of decentralized exchanges (DEXs).

Binance Smart Chain (BSC), a blockchain platform launched by cryptocurrency exchange Binance, generated a relatively lower but still significant amount of revenue through On-chain service charges. BSC has become popular among decentralized finance (DeFi) enthusiasts due to its lower transaction fees and faster block times compared to Ethereum.

Bitcoin, the world’s largest cryptocurrency by market capitalization, generated a lower amount of on-chain service charges than Ethereum, Uniswap, and BSC. This is because Bitcoin’s blockchain primarily supports peer-to-peer transactions and has limited support for smart contracts and dapps.

SushiSwap, a decentralized exchange built on the Ethereum network, also generated a significant amount of on-chain service charges, showcasing the growing adoption of DEXs as an alternative to centralized exchanges.

Finally, GMX, a relatively new cryptocurrency exchange, generated a modest amount of revenue through on-chain service charges. This indicates that even new players in the cryptocurrency space can earn revenue through on-chain service charges and highlights the potential for growth in this area.

In conclusion, the data from Cryptofees.info highlights the significance of on-chain service charges in the overall revenue generation of cryptocurrencies. Ethereum, Uniswap, BSC, Bitcoin, SushiSwap, and GMX have all benefited from this revenue stream, and it is likely to remain a crucial aspect of the cryptocurrency ecosystem.

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