On-Chain Service Charges Revenue of 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 $9766194.91, the revenue …
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
Interpret the above information:
The message reports the revenue earned by top cryptocurrencies through their on-chain service charges over the last 24 hours. The data, as reported by Cryptofees.info, indicates that Ethereum came in on top with $9766194.91 in revenue followed by Uniswap with $3017273.23, GMX with $797887.21, Bitcoin with $585236.48, BSC with $543256.21 and SushiSwap with $338979.68 in revenue respectively.
On-chain service charges are fees that users pay on blockchain networks to execute transactions, smart contracts, and other activities. They are a significant source of revenue for blockchain networks, and these fees are typically paid in the cryptocurrency of the corresponding network.
The high revenue of Ethereum is expected, considering its role as one of the most popular blockchain networks for developing decentralized applications (dApps), and it has the highest transaction volume compared to other cryptocurrencies.
Uniswap, on the other hand, is an automated market maker (AMM) that allows users to swap tokens directly without having to rely on traditional order books. This makes it an attractive platform for traders and liquidity providers, leading to high demand for its on-chain services.
GMX, a relatively new cryptocurrency exchange, seems to have gained traction in the past few months, which is evident from the revenue it earned through on-chain service charges. However, it is still not as popular as other major exchanges like Binance.
BSC or Binance Smart Chain, is a blockchain network launched by Binance in 2020, which aims to provide a faster and cheaper alternative to Ethereum. The growing interest in BSC is also reflected in the revenue earned through on-chain service charges.
Overall, the revenue earned through on-chain service charges is an essential indicator of a blockchain network’s usage and popularity. As the adoption of cryptocurrencies continues to grow, we can expect these figures to increase significantly in the future.
In conclusion, the data presented in the message sheds light on the revenue earned by top cryptocurrencies and highlights the diverse range of services and platforms provided by these networks. The cryptocurrency industry is fast-paced, and tracking these figures over time can provide valuable insights into the dynamics of the market.
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