Ethereum’s first-quarter 2024 net profit reached $369.11million, which was a 219.5% improvement over last year’s same quarter.
The following is a list of Coin98 Analytics, Ethereum’s revenue from commissions reached $1.17billion, 155% higher than the first quarter 2023. The total revenue surpassed the $1 billion threshold, but expenses rose by nearly $666 millions.
In the first quarter of 2024, the number of users who are active on the network daily increased from 404,000 to 1,18 million. More than 107,000,000 transactions have been carried out in the first quarter 2024. Additionally, 263.8 millions unique addresses have also been added. Daily commissions were 508.77 Ether (ETH).
The Coin98 Analytics report also stated that during the first three-month period of 2024 more than 4 million people would be using cryptocurrency. NFTs Ethereum was used for the creation of these products. USDT Stablecoin remains the most popular Ethereum-based stablecoin Market capitalization is a measure of the value of a company’s stock.
According to DefiLlama, the total value locked (TVL) on the Ethereum network has risen to $55.89 billion but has fallen to $50 billion at the time of this writing.
Profits increased for the company as fees rose on Ethereum. Transaction costs on Ethereum are significantly higher due to the rise of ERC-20 tokens.
The need to scale solutions in order to keep up with demand and avoid alienating the users is critical. Dencun’s March update addressed some commission issues, including the amount of the commission for Ethereum Level 2. solutionsIt has been reduced several times.
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Source: crypto.news