Ethereum

2024

Coin98

DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ethereums-earnings-skyrocket-in-q1-2024-with-rising-user-activities">Ethereum’s Earnings Skyrocket in Q1 2024 with Rising User Activities</a><br></p>
<p style="text-align: justify"> <a href="https://en.bitcoinhaber.net/ethereum-struggles-for-bullish-momentum-as-market-awaits-direction">Ethereum</a>, the leading blockchain in terms of transaction volume, experienced a dramatic surge in financial performance during the first three months of 2024. Coin98 Analytics reports a threefold increase in earnings for Ethereum, reaching an impressive $369 million, a stark contrast to the $119 million of the same period in the previous year. </p> 
<h2 id="ethereum-s-revenue-and-fees-soar">Ethereum’s Revenue and Fees Soar</h2> 
<p style="text-align: justify"> The first quarter of 2024 marked a period of prosperity for Ethereum as transaction fees skyrocketed by 155% to $1.2 billion compared to the same quarter in the preceding year. This substantial growth in fees contributed to an overall revenue total of $1 billion for the quarter, an 186% jump from the previous year’s $385 million. Ethereum’s price spike to over $3,000 at February’s end played a pivotal role, leading to an upsurge in network transaction costs that had users paying upwards of $100 at peak times. </p> 
<h2 id="user-activity-and-defi-sector-expand">User Activity and DeFi Sector Expand</h2> 
<p style="text-align: justify"> Despite the steep transaction fees, Ethereum saw a rise in network utilization, with total transactions climbing 8.4% from the last quarter to over 107 million. The Ethereum DeFi ecosystem also flourished, with a total value locked at $55.9 billion, marking an 86% increase from the preceding quarter. <a href="https://en.bitcoinhaber.net/jpmorgan-signals-potential-clampdown-on-tether-by-us-regulators">Tether</a> continued to dominate as the premier Ethereum-based stablecoin by market value, with a 14% increase since the last quarter, while USDC saw a 23% rise in its ERC-20 market value. </p> 
<h2 id="points-to-take-into-account">Points to Take Into Account</h2> 
<ul> 
 <li>Ethereum’s earnings in Q1 2024 have tripled year-over-year.</li> 
 <li>Transaction fees and overall revenue have seen significant increases.</li> 
 <li>The spike in Ethereum’s price has led to higher transaction fees for users.</li> 
 <li>Network activity and the value locked in DeFi have both seen substantial growth.</li> 
 <li>Tether and USDC, as leading stablecoins, continue to expand their market value.</li> 
</ul> 
<p style="text-align: justify"> This impressive financial performance and increased network activity indicate a robust and growing interest in Ethereum as it continues to play a significant role in the <a href="https://en.bitcoinhaber.net/sec-postpones-verdict-on-bitcoin-etf-options-trading">cryptocurrency</a> market and DeFi sector.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ethereums-earnings-skyrocket-in-q1-2024-with-rising-user-activities">Ethereum’s Earnings Skyrocket in Q1 2024 with Rising User Activities</a></h5>

Ethereum’s Earnings Skyrocket in Q1 2024 with Rising User Activities

Table of Contents

BH NEWS

Other articles published on Apr 3, 2024

Is the Worst Over for Bitcoin? This Indicator Gives Room for Bounce

Crypto Exchange Insurance Funds Surge as Market Thrives

Dogwifhat Price Prediction: WIF Jumps 5% As Traders Send $6.8 Million To New Solana Meme Coin Slo...

Bitcoin Faces Decline While Polygon’s MATIC Presents Buying Opportunity

Dogecoin Accumulation Draws To An End, Why DOGE Price Can Reach $1

Gurbir Grewal Reflected About Efforts of Compliance of Crypto-Industry.

Join our free newsletter for daily crypto updates!