Layer-1 Protocol Revenue

The gap between ETH and its competitors is not that close just yet. Neither this post nor any other post on cryptofal.com should be taken as financial advice. It is not.

There is a lot of buzz about who will be the next Ethereum or ETH killer but when looking at protocol revenue over the last 30 days it does not look like anyone will be able to do so any time soon. Avalanche is the second-highest in protocol revenue for the past month and has still done over $500 million less in revenue than ETH.

Currently, no other project has as much built on it as ETH. All the popular dapps are on ETH. While up and coming projects can be faster and cheaper they are still not as battle-tested as ETH. Solana, for example, has had its issues over the past few months where they have had to shut things down for a bit.

The other thing to keep in mind is how early in development AVAX, SOL, and ADA are in comparison to ETH which launched in 2011. As time goes on some of that revenue will get more spread out but that will not start until the new ecosystems can put out products that can compete with those on Ethereum. We should also be on the lookout for popular ETH dapps switching ecosystems or adding their projects to different chains as well.