Ethereum

<ul><li>Ethereum&#39;s revenue in the first quarter of 2024 reached $365 million, a 200% increase from Q4 2023, setting the network on a path to achieve $1 billion in annual profits.</li><li>Increased DeFi activities significantly contributed to a surge in Ethereum&#39;s transaction volumes, with daily transactions in 2024 nearing the all-time high recorded in 2021.</li><li>The introduction of U.S. Bitcoin ETFs and the anticipated Bitcoin halving are expected to catalyze a bullish phase for cryptocurrencies.</li></ul>According to The DeFi Report analyst Michael Nadeau, Ethereum raked in $365 million in revenue in the first quarter of 2024. This is up from the $123 million in profits recorded in the last quarter of 2023, representing a 200% growth. With this trajectory, Ethereum is on course to reach $1 billion in annualized profits, following a year-on-year quarterly revenue surge of 155%.The network&#39;s fee revenue was a major contributor to this growth, totaling $1.17 billion for the quarter. This marks a 155% increase from the first quarter of 2023 and an 80% rise from the previous quarter. Per Nadeau, the growth was <a href="https://thedefireport.io/research/ethereum-networks-q1-earnings-results#7-key-insights-from-the-q-124-issue" rel="noopener noreferrer nofollow">driven</a> by a “surge in DeFi activity during the quarter.”Transaction volumes on Ethereum have notably increased, with over 1.15 million average daily transactions already recorded in 2024. These figures not only surpass the total from 2023, which stood at 1.05 million but are also approaching the peak of 1.25 million transactions last seen in 2021.<a href="https://cryptotale.org/ethereums-first-quarter-earnings-triple-to-365-million-as-defi-activity-skyrockets/" rel="noopener noreferrer nofollow">Read more on Cryptotale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Ethereum's First Quarter Earnings Triple to $365 Million as DeFi Activity Skyrockets

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