Ethereum Now Handling Fifty Times More Than Bitcoin in Network Fees – Trustnodes - BitcoinEthereumNews.com
Total daily blockchain fees, March 19 2022 The blockchain fee tracking platform shows that the Ethereum network generated $20.3 million in daily fees on Friday, while Bitcoin collected $422,965. Thats a huge disparity with CryptoFees stating its data comes from CoinMetrics and Graph Protocol subgraphs. For bitcoin, we can even verify it ourself as bitcoin had 270,572 transactions in the past 24 hours, times 0.000038 BTC ($1.54) per transaction, amounts to about $400,000. This represents 2.5% of the fees that the ethereum network attracted in an indication that there is far more demand for ethereum than bitcoin. In fact, ethereum is the most used blockchain, and by far, out of all cryptos. At a distant second, Uniswap made $5.4 million in fees, Binance Smart Chain just $1.55 million, while the fourth biggest blockchain in terms of fees, Avalanche, came at $859,466. Other networks generating more daily fees than Bitcoin are SushiSwap and Trader Joe at $723,916 and $539,054 respectively. Why Ethereum Has High Demand Bitcoin is the most valuable crypto in terms of market capitalization, but in terms of blockchain utility, other cryptos are attracting more users due to having more use cases. Ethereum for example hosts a lot of decentralized applications in defi and other projects, including