Canton Network, the privacy-enabled institutional blockchain built by Digital Asset, generated $60.2 million in fees over the past 30 days, putting it ahead of Tron and well above Ethereum, according to DefiLlama data.
The DefiLlama fee tracking dashboard records Canton’s 30-day total at $60.2 million, compared to $27.6 million for Tron and $11.3 million for Ethereum over the same period. Digital Asset co-founder and CEO Yuval Rooz noted the milestone on X earlier this month: “$CC processes the highest fees of any institutional blockchain network today.”
Reimbursement methodology
DefiLlama tracks Canton fees as gas paid by network participants, a methodology consistent with the way it measures Ethereum and Tron fees. Canton is a permissioned, privacy-preserving network used primarily by financial institutions for asset settlement and tokenization. Transaction volumes there are traced to institutional workflows rather than retail DeFi activity, which determines how fees are compared.
Canton’s 30-day fee puts it fourth in DefiLlama’s overall rankings among all protocols, behind Tether, Circle’s USDC and Hyperliquid’s perpetual exchange. All-time cumulative fees were $488.9 million. The latest 24-hour figure at the time of publication was $1.84 million.
Institutional background
The figures follow significant capital investments around Digital Asset. The company closed a $355 million funding round in June led by a16z crypto, with HSBC, Apollo, BNP Paribas, CME, Tradeweb and more than two dozen other institutional names joining. Visa and stablecoin issuer Brale piloted stablecoin settlement on the network using SBC, a US dollar-backed stablecoin. South Korea’s Bithumb listed Canton Coin on its KRW market on June 23.
Canton is one of eight blockchains integrated into Mastercard’s card settlement network, according to previous Defiant coverage. The Canton Foundation was also registered under the National Cooperative Research and Production Act on June 22.
Ethereum Gap
Ethereum’s fees have remained compressed since the Dencun upgrade lowered Layer 2 settlement fees. Over the subsequent 30 days, Canton’s $60.2 million compares to Ethereum’s $11.3 million, a ratio of more than five to one. The contrast reflects how differently the two networks generate fee activity: Canton’s throughput comes from institutional settlement workflows with fixed participants, while Ethereum’s comes from a broader, but currently less cost-intensive, base of applications.
Canton has not made a public statement on when or if the compensation rankings will be updated or reported as a recurring metric.