Multiple Layer1 networks seeing drop in daily trade revenue
11/30 19:21
According to Crypto Fees data, several Layer 1 networks have seen a drop in daily transaction fee revenue, with Fantom generating just $3,280 in daily transaction fee revenue after generating $95,600 in January. During the same period, fee revenue from the Avalanche network fell from $323,400 to $11,500 and Solana's fee revenue fell from $198,600 to $26,700. Polygon's PoS blockchain, which has been running well recently, also suffered a downturn, with daily fee revenue of $28,500 compared to $622,000 in early 2022. Even smart contract networks, which are leaders in fee revenue, have seen a sharp drop in activity this year. Ether's fee revenue now stands at $1.6 million, down from over $500 million 11 months ago, while fees on the CoinA smartchain have slipped to $575,000 after topping $4 million earlier this year.
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