Ethereum racked up $1.2 billion in revenue from transaction fees in Q1 2024, or 155% more than in the first quarter last year.
Ethereum, the biggest blockchain network by transaction volume, posted major growth in the first quarter of 2024, seeing positive signs in most income statement metrics.
According to data from Coin98 Analytics, Ethereum tripled its earnings in Q1 2024 on a quarter-over-quarter basis, reaching $369 million. The amount accounted for a 210% increase year-over-year from $119 million in Q1 2023.
Ethereum Q1 2024 fees and revenues increased 79% and 85% quarter-over-quarter, respectively. According to the data, Ethereum racked up $1.2 billion in revenue from transaction fees in Q1 2024, which is 155% more than in the first quarter of last year.
