Ethereum

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Ethereum revenue, the share of network fees that accrue to Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) holders as a result of token burns, dropped by about 44% in August, even amid all-time high ETH prices.
Revenue for August totaled over $14.1 million, down from July’s $25.6 million, <a href="https://tokenterminal.com/explorer/projects/ethereum/metrics/revenue?granularity=month" rel="noopener noreferrer nofollow" target="https://tokenterminal.com/explorer/projects/ethereum/metrics/revenue?granularity=month">according</a> to Token Terminal. The drop occurred <a href="https://cointelegraph.com/news/20k-eth-price-in-play-ethereum-belief-zone" rel="noopener noreferrer nofollow">amid ETH rallying by 240%</a> since April and ETH hitting an all-time high of $4,957 on Aug. 24.
Network fees also dropped by about 20% month-over-month, falling from about $49.6 million in July to about $39.7 million in August.
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 <img alt="Wall Street, Fees, Ethereum Price" src="https://s3.cointelegraph.com/uploads/2025-09/01992562-4d39-70c2-933d-41489af1b9f8" title="">
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 Ethereum monthly revenue figures. Source: <a href="https://tokenterminal.com/explorer/projects/ethereum/metrics/revenue?granularity=month" rel="noopener noreferrer nofollow" target="_blank">Token Terminal</a>
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Monthly Ethereum network fees <a href="https://cointelegraph.com/news/ethereum-network-revenue-collapses-third-quarter-2024" rel="noopener noreferrer nofollow">fell by an order of magnitude</a> following the Dencun upgrade in March 2024, which significantly lowered transaction fees for layer-2 scaling networks using Ethereum as a base layer to post transactions.
The network’s dwindling fees and revenues have sparked <a href="https://x.com/AvgJoesCrypto/status/1964420401058238585" rel="noopener noreferrer nofollow" target="_blank">debate</a> about the viability of Ethereum, with critics saying that the layer-1 smart contract platform has unsustainable fundamentals and proponents arguing that it is the backbone of the future financial system.
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 <img alt="Wall Street, Fees, Ethereum Price" src="https://s3.cointelegraph.com/uploads/2025-09/01992563-f4e9-7c1e-8ef7-281a53c10e55" title="">
 <figcaption style="text-align: center;">
 ETH prices hit all-time highs in August 2025. Source: <a href="https://coinmarketcap.com/currencies/ethereum/" rel="noopener noreferrer nofollow" target="_blank">CoinMarketCap</a>
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Related: <a href="https://cointelegraph.com/news/ether-etf-outflow-week-traders-high-hopes-rebound" rel="noopener noreferrer nofollow">Ether ETFs post straight week of outflows amid slight price dip</a>
<h2 id="ethereum-courts-institutional-interest-in-2025">Ethereum courts institutional interest in 2025</h2>
The Ethereum network has had an eventful 2025, as the community <a href="https://cointelegraph.com/news/ethereum-marketing-firm-etheralize-perfect-timing-wall-st" rel="noopener noreferrer nofollow">pitches the blockchain platform to Wall Street</a> firms and ETH public treasury companies emerge, driving up ETH prices to all-time highs.&nbsp;
Etherealize, an advocacy and public relations firm that markets the Ethereum network to publicly traded companies, <a href="https://www.globenewswire.com/news-release/2025/09/03/3143712/0/en/Etherealize-Raises-40-Million-to-Rewire-Wall-Street-s-Infrastructure-with-Ethereum.html" rel="noopener noreferrer nofollow" target="_blank">announced</a> that it completed a <a href="https://cointelegraph.com/news/etherealize-40m-raise-treasury-firms-add-to-holdings" rel="noopener noreferrer nofollow">$40 million capital raise</a> in September.
Matt Hougan, the chief investment officer at investment firm Bitwise, told Cointelegraph that institutional and traditional financial investors are <a href="https://cointelegraph.com/news/treasury-companies-solve-ether-narrative-problem-bitwise-exec" rel="noopener noreferrer nofollow">drawn to Ether’s yield-bearing features</a>.<iframe width="100%" height="315" src="https://www.youtube.com/embed/20zFEDQdKl8?start=298" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen loading="lazy" sandbox="allow-scripts allow-same-origin allow-popups allow-forms"></iframe>
“If you take $1 billion of ETH and you put it into a company and you stake it, all of a sudden, you’re generating earnings. And investors are really used to companies that generate earnings,” Hougan said.
These firms are <a href="https://cointelegraph.com/news/ethereum-staking-institutional-demand-lido-steth" rel="noopener noreferrer nofollow">exploring staking Ethereum</a> — locking up their ETH tokens to secure the network —&nbsp; earning a yield for providing validation services to the layer-1 blockchain smart contract platform.
Magazine: <a href="https://cointelegraph.com/magazine/eth-ethereum-treasury-firms-could-spark-defi-summer-2-0-race-for-yields/" rel="noopener noreferrer nofollow">How Ethereum treasury companies could spark ‘DeFi Summer 2.0’</a>

Ethereum revenue dropped 44% in August amid ETH all-time high

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