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Ethereum’s On-Chain Service Charges Generates Highest Revenue in Last 24 Hours

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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 $9766194.91, the revenue …

Ethereums On-Chain Service Charges Generates Highest Revenue in Last 24 Hours

According to reports, according to Cryptofees.info data, in the last 24 hours, the revenue of Ethereum’s on-chain service charges was $9766194.91, the revenue of Uniswap’s on-chain service charges was $3017273.23, the revenue of GMX’s on-chain service charges was $797887.21, the revenue of Bitcoin’s on-chain service charges was $585236.48, the revenue of BSC’s on-chain service charges was $543256.21, and the revenue of SushiSwap’s on-chain service charges was $338979.68.

In the past 24 hours, the service fee revenue on the Ethereum chain exceeded US $9.7 million

Interpretation of the news:


The message pertains to the report on the revenue generated by the on-chain service charges of major cryptocurrencies in the last 24 hours. According to Cryptofees.info data, Ethereum emerged as the top earner with a revenue of $9.76 million, followed by Uniswap, GMX, Bitcoin, BSC, and SushiSwap.

On-chain service charges are transaction fees that a user has to pay to execute and validate transactions on a blockchain network. These fees are collected by miners or validators who validate transactions and update the distributed ledger. The higher the demand for a cryptocurrency, the higher its transaction fees.

In recent months, Ethereum has gained significant traction due to its smart contract capabilities and decentralized finance (DeFi) applications. The surge in demand for DeFi applications has led to an increase in transaction volume, resulting in higher on-chain service charges. The revenue generated by Ethereum’s on-chain service charges in the last 24 hours indicates a considerable demand for DeFi applications on the network.

Uniswap, a decentralized exchange built on the Ethereum network, also generated substantial revenue in the last 24 hours, with $3.01 million in on-chain service charges. Uniswap serves as a primary platform for trading DeFi tokens and has gained traction among traders due to its decentralized architecture and low trading fees.

Bitcoin, which is the largest cryptocurrency by market capitalization, generated $585,236 in on-chain service charges in the last 24 hours. Although Bitcoin has lower transaction fees compared to other cryptocurrencies, its transaction volume and demand have been relatively stable, resulting in relatively lower revenue from on-chain service charges.

In conclusion, the report on the revenue generated by on-chain service charges provides insights into the demand and usage of different cryptocurrencies. Ethereum and Uniswap emerged as the top earners, indicating the widespread adoption of DeFi applications among cryptocurrency users. The data also highlights the importance of transaction fees in the cryptocurrency ecosystem and their role in sustaining the network and incentivizing miners or validators to validate transactions.

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