Smashes Ethereum (ETH) in Daily Fees


16 Sep 2023 5:10 PM, controversial SocialFi application, made more revenue yesterday than Ethereum (ETH), dYdX (DYDX) and Lido Finance (LDO) combined...

  •, a blockchain-based application on Ethereum L2, generated over $1 million in revenue in a single day.
  • The net income of all Ethereum validators during the same period was only $406,000.
  • The SocialFi app on surpassed the Tron blockchain in terms of revenue.
  • Bitcoin generated $866,000 in fees, while BNB Smart Chain participants earned around $300,000.
  • collected more fees in 24 hours than major blockchains.
  • Despite a previous decline in activity, the social network has attracted cryptocurrency influencers like Sean Ono Lennon and Coinbase CEO Brian Armstrong.
  • Ethereum fees have been decreasing, with gas sitting at 10 Gwei, allowing for low-cost USDT transfers.
  • Ethereum's deflationary status has weakened in the past week.

The article highlights the success of in generating significant revenue and surpassing other major blockchains in terms of fees. It also mentions the decline in Ethereum fees and the weakening of its deflationary status.

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You May Ask

How much revenue did generate in a single day?How does the net income of Ethereum validators compare to's revenue?Which blockchain did the SocialFi app on surpass in terms of revenue?How much fees did Bitcoin and BNB Smart Chain generate in the same period?What has been the trend in Ethereum fees and its deflationary status recently?

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