Main navigation

Ethereum Monthly Earnings at All-Time High, During Bear Market

Tue, 02/28/2023 - 12:45
article image
Arman Shirinyan
Despite recent bear market, the Ethereum network's revenue has reached new all-time high
Ethereum Monthly Earnings at All-Time High, During Bear Market
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The Ethereum network's revenue has hit a new all-time high, despite the recent bear market that has affected most cryptocurrencies. The network's revenue reached over $1 billion in a single day, which is a major milestone for Ethereum and a bullish sign for its future.

The high revenue of the Ethereum network in a bear market is a clear indication that the platform is being used extensively for various purposes, such as DeFi, NFTs and gaming. This high usage shows that the demand for Ethereum is still strong, even in a market where many cryptocurrencies are struggling.

Ether chart
Source: Token Terminal

The increase in revenue for the Ethereum network is also beneficial for the price of Ether, which is Ethereum's native cryptocurrency. As previously reported, Ether has been experiencing a volatile period, with prices fluctuating between $1,600 and $1,700. However, the high revenue of the Ethereum network is a positive sign for Ether's future, as it demonstrates the platform's utility and potential for growth.

The recent surge in Ethereum's revenue is also due to the increasing popularity of decentralized applications (dApps) and non-fungible tokens (NFTs) built on the platform. These applications and tokens are driving the usage of the network and creating new revenue streams for Ethereum. As a result, Ethereum is becoming increasingly attractive to developers and entrepreneurs who want to build on a decentralized platform.

Ethereum (ETH) Might Form Popular 'Head and Shoulders' Pattern, But It Might Lead to Reversal

Overall, the new all-time high in Ethereum's revenue is a positive sign for the future of the platform and its native cryptocurrency, Ether. Despite the recent bear market, the high usage of the network demonstrates the growing demand for Ethereum and its potential for continued growth.

article image
About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.