Ethereum layer-2 revenue hits $277 million in 2024, spearheaded by Base’s $92 million

Ethereum layer-2 networks achieved a combined revenue of $277 million in 2024, with approximately 41% ($113 million) allocated as “cost” to the mainnet. This means the blockchain networks generated cumulative profits of $164 million last year.

Lorenz Lehmann, citing GrowThePie data, reported that Base, the layer-2 scaling solution developed by Coinbase, emerged as the highest-earning protocol in 2024, generating over $92 million. This performance is consistent with Base’s rapid growth and increased adoption compared to its rivals.

Ethereum Layer-2 Revenue (Source: X/ Lehmann)

Trailing behind, Arbitrum secured the second spot with $42 million in revenue, followed by Consensys-backed Linea, which generated $36.6 million. Scroll and Optimism rounded out the top five, earning approximately $35 million and $26 million, respectively.

Dencun upgrade influence

Lehmann pointed out that the fee landscape underwent a significant transformation following the Dencun upgrade, which reduced fees for L2 transactions and reshaped Ethereum’s revenue structure.

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Author: Oluwapelumi Adejumo

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Ethereum layer-2 revenue hits $277 million in 2024, spearheaded by Base’s $92 million

Dencun upgrade influence