加密货币费用终极指南：它们如何运作以及它们为何重要

在《比特币市场杂志》，我们像投资股票一样投资加密代币。虽然两者之间存在重要差异，但我们像传统公司一样分析加密“公司”，并通过两者的组合来实现投资多元化。

Crypto companies, like traditional companies, earn revenue by charging users fees for transactions on their networks. These fees are a key indicator of a blockchain project’s utility, demand, and long-term stability.

与传统公司一样，加密货币公司通过向用户收取网络交易费用来赚取收入。这些费用是区块链项目效用、需求和长期稳定性的关键指标。

In this guide, we're highlighting the top crypto companies earning the most fees and explaining how these fees can be a crucial metric for identifying promising crypto investments.

在本指南中，我们重点介绍赚取最多费用的顶级加密公司，并解释这些费用如何成为识别有前途的加密投资的关键指标。

Key Takeaways:

要点：

Just as a traditional company generates income by charging customers for its products or services, crypto companies collect fees from users who transact on the network. Essentially, fees are how crypto companies make money.

正如传统公司通过向客户收取其产品或服务费用来赚取收入一样，加密货币公司向在网络上进行交易的用户收取费用。从本质上讲，费用是加密货币公司赚钱的方式。

Think of it like a toll road. Drivers pay a fee to use the road, which is then collected by the company or authority that maintains the infrastructure. The more popular and essential the road, the higher the fee revenue.

把它想象成一条收费公路。司机支付道路使用费，然后由维护基础设施的公司或机构收取。道路越受欢迎、越重要，费用收入就越高。

Similarly, a blockchain network that processes many transactions—especially if users are willing to pay higher fees for faster service—will generate substantial fees, which can indicate a great long-term investment.

同样，处理许多交易的区块链网络（特别是如果用户愿意为更快的服务支付更高的费用）将产生大量费用，这可能意味着巨大的长期投资。

For crypto investors, fees are a great barometer of a company’s success. Because they are like revenue of a traditional company, they are one of our most important metrics for identifying promising crypto investments.

对于加密货币投资者来说，费用是公司成功的重要晴雨表。因为它们就像传统公司的收入，所以它们是我们识别有前途的加密货币投资的最重要指标之一。

Top Crypto Companies by Fees

按费用排名的顶级加密货币公司

Ethereum

以太坊

With almost $2B in fees this year, Ethereum’s high fee revenue is a result of several factors. On one hand, there has been an increase in usage due to the DeFi and NFT market boom.

以太坊今年的费用接近 20 亿美元，其高额费用收入是多种因素造成的。一方面，由于 DeFi 和 NFT 市场的繁荣，使用量有所增加。

However, network congestion and gas fee structures also play a role. Ethereum is no stranger to network congestion, and when this happens, users have to bid higher gas fees in order to have their transactions prioritized.

然而，网络拥塞和燃气费结构也发挥了作用。以太坊对网络拥塞并不陌生，当这种情况发生时，用户必须支付更高的汽油费才能优先处理他们的交易。

Ethereum also has a base fee mechanism that was introduced in August 2021. The base fee adjusts automatically based on network congestion, with fees rising during periods of high activity. Under this structure, users can also pay “tips” to have their fees prioritized.

以太坊还具有 2021 年 8 月推出的基本费用机制。基本费用会根据网络拥塞情况自动调整，在活动高峰期费用会上涨。在这种结构下，用户还可以支付“小费”以优先处理费用。

Ethereum experienced a spike in fees in March 2024 due to a growth in speculative activity, particularly on decentralized exchanges like Uniswap. This activity was fueled by the rising popularity of ERC-404, an unofficial token standard that enables fractionalized NFTs. These tokens have much higher gas fees -- as much as three times more than traditional NFTs – which led to a surge in gas prices.

由于投机活动的增加，尤其是 Uniswap 等去中心化交易所的投机活动，以太坊在 2024 年 3 月经历了费用飙升。 ERC-404 的日益普及推动了这一活动，ERC-404 是一种非官方代币标准，可实现碎片化 NFT。这些代币的 Gas 费要高得多，是传统 NFT 的三倍，这导致 Gas 价格飙升。

Broader events in the crypto market also played a role, as BlackRock launched a bitcoin ETF in early March that increased overall interest in cryptocurrencies.

加密货币市场的更广泛事件也发挥了作用，贝莱德 (BlackRock) 在 3 月初推出了比特币 ETF，增加了人们对加密货币的整体兴趣。

Tron

创

Tron has earned about $1.35 billion in fee revenue this year, partially due to stablecoin activity, as Tron has become the go-to network for USDT (Tether) transactions. USDT is one of the most popular stablecoins in the world, and Tron’s fast speeds and low transaction costs have made it a preferred network for many stablecoin users.

Tron 今年的手续费收入约为 13.5 亿美元，部分归功于稳定币活动，因为 Tron 已成为 USDT（Tether）交易的首选网络。 USDT是全球最受欢迎的稳定币之一，Tron的快速速度和较低的交易成本使其成为许多稳定币用户的首选网络。

Unlike Ethereum, Tron is designed for low-cost microtransactions, making it an attractive platform for those performing frequent, small-value transactions. Where Ethereum’s fee growth has been fairly flat, Tron’s fees are definitely growing.

与以太坊不同，Tron 是为低成本微交易而设计的，这使其成为那些执行频繁、小额交易的人的一个有吸引力的平台。以太坊的费用增长相当平稳，而波场的费用肯定在增长。

Tether

系绳

As of this writing, Tether has earned $1.209B YTD in fees. As mentioned, Tether remains one of the most widely used stablecoins, and it’s a go-to for many for cross-border payments and remittance services, particularly in countries where traditional banking systems are unreliable.

截至撰写本文时，Tether 年初至今已赚取 1.209B 美元的费用。如前所述，Tether 仍然是使用最广泛的稳定币之一，它是许多人跨境支付和汇款服务的首选，特别是在传统银行系统不可靠的国家。

It is also currently one of the most transacted assets on the Ethereum blockchain, and when Ethereum experiences congestion due to high network activity, Tether benefits by earning more in fees.

它也是目前以太坊区块链上交易量最大的资产之一，当以太坊因网络活动频繁而出现拥塞时，Tether 会通过赚取更多费用而受益。

Tether brings in $13.4 million in fees each day on average

Tether 平均每天带来 1340 万美元的费用

Bitcoin

比特币

Bitcoin has earned substantial revenue in fees this year – around $800 million – in part due to a significant uptick in transaction volume.

比特币今年获得了可观的费用收入——约 8 亿美元——部分原因是交易量大幅上升。

Additionally, bitcoin introduced the Ordinals protocol in 2023, which allows users to embed data, such as texts or images, directly onto the bitcoin blockchain. This has led to minting more NFTs on bitcoin, which previously was not a widespread practice. Minting NFTs requires more block space, leading to higher transaction fees, particularly in times of high demand.

此外，比特币于 2023 年引入了 Ordinals 协议，该协议允许用户将文本或图像等数据直接嵌入到比特币区块链中。这导致在比特币上铸造更多的 NFT，而这在以前并不普遍。铸造 NFT 需要更多的区块空间，从而导致交易费用更高，尤其是在需求高的时候。

These “BRC-20 tokens” have also led to speculative trading activity on bitcoin, which has resulted in more network congestion, therefore increasing fees further.

这些“BRC-20代币”还导致了比特币的投机交易活动，从而导致了更多的网络拥塞，从而进一步增加了费用。

Bitcoin’s fees also spiked in April 2024, due to the highly anticipated halving event on April 20th, wherein rewards for miners were cut in half. This led to increased competition among users trying to have their transactions confirmed on the final blocks before and immediately after the halving.

由于 4 月 20 日备受期待的减半事件，矿工的奖励减少了一半，比特币的费用也在 2024 年 4 月飙升。这导致用户之间的竞争加剧，试图在减半之前和之后立即在最终区块上确认其交易。

Despite the spike in fees, things cooled down quickly after the halving, with fees returning to normal levels shortly afterward.

尽管费用飙升，但减半后情况迅速降温，费用很快恢复到正常水平。

Lido Finance

丽都金融

Lido Finance has earned $780.413M YTD in fees. Lido’s high fee revenue can be partially attributed to it being a dominant blockchain for

Lido Finance 今年迄今已赚取 7.80413 亿美元的费用。 Lido 的高额费用收入部分归因于它是一个占主导地位的区块链