{"id":75146,"date":"2024-04-03T08:49:59","date_gmt":"2024-04-03T12:49:59","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=75146"},"modified":"2024-04-03T08:50:02","modified_gmt":"2024-04-03T12:50:02","slug":"eth-q1-2024-earnings-soar-by-more-than-155-in-previous-year","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/eth-q1-2024-earnings-soar-by-more-than-155-in-previous-year\/","title":{"rendered":"ETH Q1 2024 Earnings Soar by More than 155% in Previous Year"},"content":{"rendered":"\n

Ethereum blockchain Network<\/a> saw significant growth in the first quarter (Q1) of 2024, 155% more than in the first quarter of 2023. <\/p>\n\n\n\n

\"ETH
ETH Q1 2024 Earnings Soar by More than 155% in Previous Year<\/figcaption><\/figure>\n\n\n\n

Coin98 Analytics research indicates that Ethereum's earnings in Q1 2024 tripled on a quarter-over-quarter basis to $369 million. The sum represented a 210% year-over-year growth from $119 million in Q1 2023.<\/p>\n\n\n\n

Ethereum's Q1 2024 revenue and fees grew by 85% and 79% over the previous quarter. The information shows that Ethereum made $1.2 billion in Q1 2024 from transaction fees, a 155% increase from a year earlier.<\/p>\n\n\n\n

In Q12024, total Ethereum income reached $1 billion, up 186% from $385 million in the same period the previous year.<\/p>\n\n\n\n

\"Ethereum
Ethereum income statement metrics summary. Source: Coin98 Analytics<\/figcaption><\/figure>\n\n\n\n

Ethereum's triumph in the first quarter of 2024 coincided with the cryptocurrency's close-to-all-time high values in March, which caused a sharp increase in network transaction costs<\/a>.<\/p>\n\n\n\n

During the pinnacle of Ethereum's value in late February, some users claimed to have paid over $100 in transaction fees.<\/p>\n\n\n\n

According to some users, the average gas fee for a swap transaction as of March 1 was approximately $79; however, in late February, other users reported that the anticipated cost of an ETH exchange increased by over $400.<\/p>\n\n\n\n

\"Ethereum
Ethereum network fees one-year chart. Source:\u00a0YCharts\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/figcaption><\/figure>\n\n\n\n

Ethereum demonstrated a notable increase in network utilization in Q1 2024, although network users were subject to enormous fees.<\/p>\n\n\n\n

In the first quarter of 2024, Ethereum transactions increased overall, rising 8.4% from the previous quarter to reach over 107 million transactions, according to Coin98.<\/p>\n\n\n\n

Furthermore, the entire value locked in the decentralized finance ecosystem of Ethereum rose to $55.9 billion, an 86% increase from the previous quarter.<\/p>\n\n\n\n

With a 14% increase in market value from the previous quarter, Tether USDT continued to be the largest Ethereum-based, or ERC-20, stablecoin<\/a> by market capitalization in Q1 2024. Over a quarter, USDC, its most prominent opponent, boosted the market value of ERC-20 by 23%.<\/p>\n\n\n\n

A recent analysis by Matrixport indicates that most assets, including those in traditional finance, had a good first quarter of 2024. Nvidia demonstrated returns of 81%, while the Nasdaq had up to 10% returns.<\/p>\n\n\n\n

Gold and oil saw 11% and 19% returns during the active trading of commodities. Bitcoin and Ethereum gained 57% and 45% in the first quarter, while US bonds fell in value.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ethereum blockchain Network saw significant growth in the first quarter (Q1) of 2024, 155% more than in the first quarter of 2023. Coin98 Analytics research indicates that Ethereum’s earnings in Q1 2024 tripled on a quarter-over-quarter basis to $369 million. The sum represented a 210% year-over-year growth from $119 million in Q1 2023. Ethereum’s Q1 […]<\/p>\n","protected":false},"author":12,"featured_media":54723,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[23],"tags":[8138,5562,5555,19034],"class_list":["post-75146","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum-news","tag-ether-3","tag-eth-2","tag-ethereum-3","tag-earnings"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/07\/image-26.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=75146"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/75146\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/54723"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=75146"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=75146"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=75146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}