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- Ethereum was the protocol with the highest rely of fee-paying customers within the final six months.
- It was, nonetheless, 4 locations behind Tron by way of each day lively consumer rely.
Ethereum [ETH] takes the lead because the venture with the very best rely of fee-paying customers within the final six months, knowledge from Token Terminal revealed. In response to info 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] Price Prediction 2023-24
Tron [TRX] adopted carefully behind with cumulative charges of $451.2 million. Not far behind, Uniswap [UNI], a outstanding decentralized trade, 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 rationale behind the astronomical development 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 quick time period.
In response to a 30 April tweet by on-chain knowledge 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.
54,000+ $PEPE holders in simply 2 weeks? 🤯
Spectacular, however let’s not neglect the 1.3 million $SHIB holders on the market!
And do you know that over 3,350 wallets maintain each memecoins?
Let’s dive into the highest holders of those two 👇 pic.twitter.com/VmJPdJZQEY
— Nansen 🧭 (@nansen_ai) April 30, 2023
As PEPE buying and selling intensified, the on-chain exercise on the Ethereum chain grew as properly. The median transaction charge on the community rose to its highest stage since Could 2022, per knowledge from Dune Analytics.
On 5 Could, a excessive quantity of PEPE buying and selling on Ethereum pushed the median transaction charge to a one-year excessive of 142 GWEI.
Nonetheless, 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 Could peak.
Supply: Dune Analytics
Is your portfolio inexperienced? Take a look at the Ethereum Profit Calculator
Ethereum takes the again seat on this regard
Whereas Ethereum has seen the very best rely of fee-paying customers within the final six months, knowledge from Token Terminal revealed that 4 different initiatives had been positioned forward of Ethereum by way of each day consumer exercise.
In response to the on-chain knowledge supplier, Tron leads with a cumulative rely of 1.6 million each day lively customers. It’s carefully adopted by BNB Chain [BNB], with an lively consumer rely of 1.4 million. Bitcoin comes with subsequent a each day lively consumer rely of 622,000. Layer 2 scaling platform Polygon [MATIC] follows with 366,000 each day lively consumer rely, whereas Ethereum occupies the fifth place with 309,000 each day lively customers.
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