Jul 20, 2021 09:33 UTC
Jul 20, 2021 at 09:33 UTC
Ethereum, Uniswap, Binance smart Chain, and Aave are all hitting out Bitcoin by daily fee revenue.
Ethereum seems to be extending its fee dominance over Bitcoin by 10 times, with Bitcoin presently ranking simply sixth by weekly fee generation.
According to CryptoFees’ data for July 18, the Bitcoin network had generated $725.7 million in daily fees on the average over the past seven days, and fewer than $400,000 price of fees for the day.
Ethereum tops the rankings far and away, generating over $6.1 million in daily fees on the average for the week, and over $5 million for the day. As such, Ethereum’s daily fees beat Bitcoin’s by 8.4 times for the past week, and by over 15 times for July 18.
Uniswap V3 is second with a mean of $1.5 million in daily fees, followed by Binance smart Chain with $1.2 million, Uniswap V2 with $732,000, Aave with $728,000, then Bitcoin.
Twitter user “odin free” tweeted the findings, comparing Ethereum’s network strength relative to Bitcoin to Facebook’s rise to dominance over Myspace throughout the late 2000s.
Bitcoin’s fall in the fee rankings comes as Ethereum’s forthcoming London upgrades spark revived speculation whether or not the leading crypto assets by market cap is flipped amid the Eth2 rollout.
On July 14, crypto analyst Lark Davis tweeted information indicating that Ethereum’s daily on-chain settlement worth is trending at triple that of Bitcoin. Davis noted the increasing quality of layer-two scaling solutions for Ethereum is probably going to extend the inequality.
“I extremely suspect this gap can increase currently that we’ve layer twos like Optimism coming back on-line,” he said.
Ethereum is additionally hitting out Bitcoin by total dealings count by almost 500%, and has enjoyed transient stints leading BItcoin by dealings volume, commerce volume, and node count over recent months.