In 2024, TON (The Open Network) ranked as the 10th highest fee-earning blockchain, generating an impressive $35.28 million in annual fees. This milestone was bolstered by Telegram's official integration of TON, which made on-chain interactions easier and more accessible. Features like tap-to-earn blockchain games have also driven increased adoption among Telegram’s massive user base.
Which Layer 2 Blockchains Earned the Most Fees?
Base Takes the Lead Among Layer 2s
Base led the pack in fee earnings among Layer 2 (L2) blockchains, generating $84.78 million in 2024—a staggering 548.2% increase compared to the $13.08 million it earned in 2023. While the dramatic rise is partly due to Base launching its mainnet in August 2023, the platform has also gained strong traction thanks to its user-friendly design and integration with Coinbase.
Even after accounting for its late 2023 launch, Base saw its quarterly fee earnings soar. It went from an average of $6.38 million per quarter in the second half of 2023 to a quarterly average of $21.20 million in 2024.
Linea’s Steady Growth
Similarly, Linea, which also launched its mainnet in August 2023, recorded an annual fee growth of 62%. Its fees climbed from $24.20 million in 2023 to $39.20 million in 2024, with a significant chunk earned in the first quarter during its Linea Park airdrop campaign.
Optimism Shows Modest Growth
Optimism, another major player in the L2 space, experienced only a small 1.9% increase in annual fees, earning $37.97 million in 2024, compared to $37.26 million in 2023. While the growth was minimal, it shows Optimism’s resilience in an increasingly competitive market.
Arbitrum and zkSync See Fee Earnings Decline
Arbitrum Faces a 30% Drop
Arbitrum earned $44.10 million in 2024, making it the second-highest fee-earning L2 blockchain. However, this marked a 30.1% drop from the $63.12 million it earned in 2023. Despite its strong position, Arbitrum, like other established players, faced significant competition from newer L2 projects.
zkSync Takes the Biggest Hit
zkSync had an even steeper decline in fee earnings, plummeting 59.6% from $60.04 million in 2023 to just $24.27 million in 2024. Its earnings were initially boosted by an airdrop points program, with quarterly fee earnings averaging $20.04 million from Q2 2023 to Q1 2024. However, after the program ended, its fees dropped sharply, averaging only $0.99 million per quarter in the latter half of 2024.
The Role of Incentives in L2 Fee Trends
The fluctuating fee earnings among Layer 2 blockchains highlight the impact of marketing campaigns and token airdrops on driving on-chain activity. These short-term incentive programs can lead to temporary spikes in earnings, but their long-term sustainability remains uncertain.
Methodology
This analysis looked at gas fees earned by Layer 1 and Layer 2 blockchains from January 1, 2023, to December 31, 2024, using data from TokenTerminal and Artemis. Blockchains without sufficient fee data were excluded.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in crypto or any financial asset.