Bitcoin
BTC$56 258.13

-1.35%

Ethereum
ETH$4 489.75

-2.02%

Binance Coin
BNB$611.27

-1.84%

Tether
USDT$1.000332

-0.08%

Solana
SOL$228.23

0.71%

Cardano
ADA$1.67

7.55%

Bitcoin falls to sixth for daily revenue, with just 12% of Ethereum's fees


20 Jul 2021

#Ethereum

Ethereum, Uniswap, Binance Smart Chain, and Aave are all beating out Bitcoin by daily fee revenue. Ethereum appears to be extending its fee dominance over Bitcoin by roughly 10 times, with Bitcoin currently ranking just sixth by weekly fee generation.

According to CryptoFees’ data for July 18, the Bitcoin network had generated $725.7 million in daily fees on average over the past seven days, and less than $400,000 worth of fees for the day.

Ethereum tops the rankings by far, generating more than $6.1 million in daily fees on average for the week, and more than $5 million for the day. As such, Ethereum’s daily fees beat out Bitcoin’s by 8.4 times for the past week, and by more than 15 times for July 18.

Uniswap V3 ranked second with an average 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, and then Bitcoin. Twitter user “odin free” tweeted the findings, likening Ethereum’s network strength relative to Bitcoin to Facebook’s rise to dominance over Myspace during the late 2000s.

Bitcoin’s slide down the fee rankings comes as Ethereum’s forthcoming London upgrades spark renewed speculation whether the leading crypto asset by market cap will be flipped amid the Eth2 rollout. On July 14, crypto analyst Lark Davis tweeted data indicating that Ethereum’s daily on-chain settlement value is trending at triple that of Bitcoin. Davis noted the increasing popularity of layer-two scaling solutions for Ethereum is likely to increase the disparity.

“I highly suspect this gap will increase now that we have layer twos like Optimism coming online,” he said.

Ethereum is also beating out Bitcoin by total transaction count by roughly 500%, and has enjoyed brief stints leading BItcoin by transaction volume, trading volume, and node count over recent months.


Related

Eth2 devs call on to community to help test out the merge
Eth2 devs call on to community to help test out the merge
Stocks lurch pressured crypto on Friday
Stocks lurch pressured crypto on Friday
Traders expect Ethereum price to drop further ahead of Friday’s $550M options expiry
Traders expect Ethereum price to drop further ahead of Friday’s $550M options expiry
Cryptocurrencies in FinTech
Cryptocurrencies in FinTech
Traders watch for a trend reversal after Ethereum price drops to $4,100
Traders watch for a trend reversal after Ethereum price drops to $4,100
Bitcoin and Ether increasingly move in line with stock market laws
Bitcoin and Ether increasingly move in line with stock market laws
Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds
Rocket Pool Eth2 staking service launches, hits stage two cap in 45 seconds
Ethereum Name Service’s new token already has a fully diluted cap of $3.1B
Ethereum Name Service’s new token already has a fully diluted cap of $3.1B
Bitcoin price hits 1-week high in minutes on sudden $1.5K gains
Bitcoin price hits 1-week high in minutes on sudden $1.5K gains

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 75.2% 52 $56 258.13 -1.35% -3.39% $1 062 685 871 647 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 82.8% 32 $4 489.75 -2.02% 0.62% $532 409 655 839 ETH 7 days price change
3 Binance Coin (BNB) BNB Binance Coin predictions 80% 34 $611.27 -1.84% -6.27% $101 960 292 775 BNB 7 days price change
4 Tether (USDT) USDT Tether predictions 93.2% 1 $1.000332 -0.08% -0.03% $74 127 743 219 USDT 7 days price change
5 Solana (SOL) SOL Solana predictions 70% 59 $228.23 0.71% 10.70% $69 756 769 207 SOL 7 days price change
6 Cardano (ADA) ADA Cardano predictions 63.6% 75 $1.67 7.55% 1.04% $55 541 807 746 ADA 7 days price change
7 XRP (XRP) XRP XRP predictions 68% 69 $0.966682 -1.39% -6.74% $45 673 121 634 XRP 7 days price change
8 USD Coin (USDC) USDC USD Coin predictions 95.6% 2 $1.000586 0.01% 0.05% $39 076 707 256 USDC 7 days price change
9 Polkadot (DOT) DOT Polkadot predictions 62% 77 $35.31 -2.83% -9.08% $34 868 955 794 DOT 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 59.2% 80 $0.206922 -0.17% -5.39% $27 388 014 340 DOGE 7 days price change
11 Terra (LUNA) LUNA Terra predictions 69.6% 68 $66.14 3.27% 50.17% $25 662 261 357 LUNA 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 61.2% 75 $106.91 -9.78% -8.11% $23 943 836 667 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 65.6% 78 $0.000042 -2.73% 1.55% $22 792 818 490 SHIB 7 days price change
14 Crypto.com Chain (CRO) CRO Crypto.com Chain predictions 56% 89 $0.692197 -3.51% -8.23% $17 486 981 094 CRO 7 days price change
15 Polygon (MATIC) MATIC Polygon predictions 68.4% 63 $2.09 -0.73% 11.57% $14 682 483 901 MATIC 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2021 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.