Ethereum Revenue Reaches US$10 Billion in Revenue:
The world’s second-largest and most popular cryptocurrency, Ethereum, made an outstanding milestone after reaching US$10 Billion in Revenue in just seven years, which is way faster than the achievements made by Facebook and Microsoft.
Ethereum’s US$10 Billion historical milestone outranked some of the world’s most dominant technology firms, according to a report published by Caleb & Brown.
The second largest blockchain in terms of users and market capitalization has achieved this incredible milestone in just seven years, which is impressive compared to Facebook, now Meta, and Microsoft.
It took Facebook 7.5 years to achieve the US$10 Billion milestones while Microsoft, the most dominant technology company in the past decades, took over 19 years to reach the US$10 Billion revenue mark.
Based on the report, the blockchain reaches this kind of revenue milestone through gas fees that users pay to execute transactions on the network. Since 2015, Ethereum has generated US$16.8 Billion in gas fees, with over 60.0% of this converting into Revenue.
The Revenue includes smart contract creation, peer-to-peer cryptocurrency transfers, NFT minting, and other on-chain activities on the second most dominant blockchain.
With this achievement of the blockchain, they are now shoulder-to-shoulder with Alphabet and Meta, two of the world’s most influential technology companies.
Etherscan, the blockchain explorer of Ethereum, displays that Ethereum has processed over 2.1 billion transactions. The cryptocurrency founded by Vitalik Buterin has a current market cap of US$191 Billion.
The market capitalization of Ethereum is considered the second largest in the crypto industry after Bitcoin. It also sustained its ranking as the second-largest blockchain in the world for years.
Meanwhile, in separate data from DeFiLama, Ethereum possesses the most TVL (Total Value Locked) in the decentralized finance (DeFi) ecosystem, which currently lies near US$48 Billion.
Last November 2021. it peaked at US$108 Billion in the crypto space’s prime time and the industry’s previous bull market.
With the recent milestones of the blockchain worldwide, users in the Philippines are also optimistic about their views of a possible bull run in the next year. They are among the most popular communities worldwide, particularly those using the Metamask wallets.
Disclaimer: PhilNews.XYZ articles and their external content are not financial advice but are only used for educational purposes. Always Do Your Own Research (DYOR) first. The team serves to deliver unbiased news with less intrusive ads.
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