Ethereum layer-2 revenue hits $277 million in 2024, spearheaded by Bases $92 million
Ethereum layer-2 networks achieved a combined revenue of $277 million in 2024, with approximately 41% ($113 million) allocated as cost to the mainnet. This means the blockchain networks generated cumulative profits of $164 million last year.
Lorenz Lehmann, citing GrowThePie data, reported that Base, the layer-2 scaling solution developed by Coinbase, emerged as the highest-earning protocol in 2024, generating over $92 million. This performance is consistent with Bases rapid growth and increased adoption compared to its rivals.
Trailing behind, Arbitrum secured the second spot with $42 million in revenue, followed by Consensys-backed Linea, which generated $36.6 million. Scroll and Optimism rounded out the top five, earning approximately $35 million and $26 million, respectively.
Dencun upgrade influence
Lehmann pointed out that the fee landscape underwent a significant transformation following the Dencun upgrade, which reduced fees for L2 transactions and reshaped Ethereums revenue structure.
According to him, most of the fees76%were collected in the first quarter of the year. However, by the end of the year, blob fees helped stabilize Ethereums revenue streams, showcasing an evolving dynamic in fee distribution.
Lehmann is the research head at GrowThePie, a blockchain analytics platform.
The post Ethereum layer-2 revenue hits $277 million in 2024, spearheaded by Bases $92 million appeared first on CryptoSlate.
Text source: CryptoSlate
