Ethereum takes the top spot as the chain with the highest count of…

  • Ethereum was the protocol with the highest depend of fee-paying customers within the final six months.
  • It was, nonetheless, 4 locations behind Tron when it comes to day by day lively person depend.

Ethereum [ETH] takes the lead because the venture with the best depend of fee-paying customers within the final six months, information from Token Terminal revealed. In response to data from the information supplier, the cumulative charges paid to make use of the Layer 1 (L1) blockchain throughout that interval totaled $1.3 billion.

Learn Ethereum’s [ETH] Value Prediction 2023-24

Tron [TRX] adopted intently behind with cumulative charges of $451.2 million. Not far behind, Uniswap [UNI], a outstanding decentralized change, secured the third spot with cumulative charges reaching $297.1 million. Lido Finance [LDO], a liquid staking platform, claimed the fourth place, having amassed $290 million in cumulative charges. Bitcoin [BTC], the world’s main cryptocurrency, rounded out the highest 5 with cumulative charges totaling $239 million.

Supply: Token Terminal

Shout out to PEPE 

The explanation behind the astronomical progress of Ethereum charges was the memecoin frenzy between April and early June. This was pushed primarily by the launch of the meme token Pepe [PEPE] on the Ethereum community on 15 April.

Following the memecoin’s launch, it skilled a major rally in buying and selling quantity, which drove up its worth inside a really brief time period. 

In response to a 30 April tweet by on-chain information supplier Nansen, the variety of PEPE holders exceeded 54,000 in simply two weeks. Fueled by its addition to Binance’s Innovation Zone, the market capitalization of the meme coin crossed the $1 billion mark.

As PEPE buying and selling intensified, the on-chain exercise on the Ethereum chain grew as nicely. The median transaction price on the community rose to its highest stage since Might 2022, per information from Dune Analytics

On 5 Might, a excessive quantity of PEPE buying and selling on Ethereum pushed the median transaction price to a one-year excessive of 142 GWEI. 

Nevertheless, because the token’s buying and selling quantity waned, fuel charges on the Ethereum community additionally trended downwards. This stood at 23 GWEI at press time, falling by 84% from the 5 Might peak. 

Supply: Dune Analytics

Is your portfolio inexperienced? Take a look at the Ethereum Revenue Calculator

Ethereum takes the again seat on this regard

Whereas Ethereum has seen the best depend of fee-paying customers within the final six months, information from Token Terminal revealed that 4 different tasks have been positioned forward of Ethereum when it comes to day by day person exercise.

In response to the on-chain information supplier, Tron leads with a cumulative depend of 1.6 million day by day lively customers. It’s intently adopted by BNB Chain [BNB], with an lively person depend of 1.4 million. Bitcoin comes with subsequent a day by day lively person depend of 622,000. Layer 2 scaling platform Polygon [MATIC] follows with 366,000 day by day lively person depend, whereas Ethereum occupies the fifth place with 309,000 day by day lively customers. 

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