Ethereum (ETH) revenue, which refers to the share of network fees attributed to Ethereum (ETH) holders through the token burn mechanism, decreased by approximately 44% in August, despite ETH reaching an all-time high.
According to data from Token Terminal, the total revenue in August was $14.1 million, down from $25.6 million in July. During this period, ETH rose by 240% since April and hit a historical high of $4,957 on August 24.
Network fees also saw a month-on-month decline of about 20%, dropping from $49.6 million in July to $39.7 million in August.
Since the Dencun upgrade in March 2024, monthly Ethereum (ETH) network fees have significantly decreased. This upgrade has notably reduced the fee costs for Ethereum (ETH) as a base layer, especially when publishing transactions for layer two scaling networks.
The ongoing reduction in network fees and revenue has sparked discussions about the sustainability of Ethereum (ETH). Critics argue that the fundamentals of this layer one smart contract platform are unsustainable, while supporters believe it is a core pillar of the future financial system.
In 2025, the Ethereum (ETH) network is expected to be active, with the community actively promoting the blockchain platform to Wall Street firms, leading to the establishment of numerous ETH treasury companies and driving ETH prices to new highs.
Etherealize, a public relations firm focused on promoting the Ethereum (ETH) network for publicly listed companies, announced it has completed a $40 million financing round in September.
According to Matt Hougan, Chief Investment Officer of investment firm Bitwise, institutional and traditional financial investors are attracted to the yield characteristics of Ethereum (ETH).
Hougan stated, "If you invest $1 billion of ETH in a company and stake it, you can immediately earn a return. Investors are very familiar with companies that can generate yield."
These companies are exploring staking Ethereum (ETH). By locking up ETH tokens, they can secure the network and provide validation services for the layer one blockchain smart contract platform, thereby earning returns.
Related: Bitcoin whales sell off the largest amount since mid-2022, with 115,000 BTC being sold.
Original article: “Despite Ethereum's Price Reaching New Highs, August ETH Network Revenue Plummets 44%”
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