Top Public Blockchains Dominate Onchain Revenue with Tron Leading

Crypto KOL AB Kuai.Dong reported on November 28, citing Nansen data, that only 11 public blockchains generated over $100,000 in revenue, led by Tron and Ethereum.

This highlights the concentrated nature of user spending, with over 95% dominated by the top six blockchains, affecting overall market dynamics.

Tron’s Fee Cuts Drive User Growth Amidst Market Concentration

Nansen, a blockchain intelligence platform, reported that in the past seven days, only 11 blockchains have surpassed $100,000 in revenue. Tron, Ethereum, Solana, along with BNB, Bitcoin, and Base, collectively make up more than 95% of this activity. Many other blockchains barely reached significant revenue levels.

Tron’s recent fee reduction to 60% increased its transaction volumes and user interaction significantly, boosting its standing amongst its peers. The overall impact underlines the concentration of onchain user spending among the leading blockchains. As noted by Nansen, “the top six blockchains by revenue are Tron, Ethereum, Solana, BNB Chain, Bitcoin, and Base, collectively dominating 95% of on-chain user spending.”

Market responses show increased developer and community engagement on these blockchains. AB Kuai.Dong’s emphasis on Nansen data has drawn attention to the disparity in revenue generation across blockchains. No immediate regulatory comments were noted.

Market Data Overview

Did you know? The dominance of Ethereum and Bitcoin in blockchain revenue resonates with historical trends, maintaining their positions as leading platforms for user and financial activity.

TRON (TRX), valued at $0.28, boasts a market cap of $26.53 billion, making up 0.85% of the market as reported by CoinMarketCap. Its 24-hour trading volume has decreased by 10.61%, and it recently experienced a 1.35% price increase over 24-hours while witnessing a 17.41% drop over 90 days. This data reflects TRON’s recent market adjustments amid increased user activity.

Coincu analysts suggest that user concentration on a limited number of blockchains could drive further innovation and investment across these ecosystems. Technological advancements may emerge as more blockchains seek to emulate the successes of Tron and Ethereum, potentially leading to changes in fee structures and network efficiency.