Altcoins News
By Jean-Luc Maracon
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ETH-Denominated Revenue Actually Rose. Here's where it gets a bit more interesting. Dollar revenue fell, sure — but revenue measured in…
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Solana and Avalanche Saw the Same Pattern. Ethereum wasn't alone in this. Solana processed 9.8 billion non-voting transactions during the…
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Ethereum's fee revenue cratered. The network pulled in roughly $64 million in the second quarter — down 51% from the $131 million it earned in the same period a year earlier, per…
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The network processed 203.9 million transactions during the quarter. That's up sharply from 121.1 million in the second quarter of the prior year.
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Lower fees, more transactions. Not the same thing as a dying network.
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Here's where it gets a bit more interesting. Dollar revenue fell, sure — but revenue measured in ETH actually went up for the first time in over a year.
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Staking kept climbing too. Active stakes hit a new record of 40.2 million ETH, which works out to about 33% of the total supply.
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Ethereum wasn't alone in this. Solana processed 9.8 billion non-voting transactions during the quarter — near its peak levels — while its dollar revenue dropped too.
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Read also: S&Ps New Index Tracks Blockchain Protocol Revenue Across 4 Major Networks
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So it's a pattern, not a one-off. Across multiple major networks, transaction volumes are running high while dollar-denominated revenue lags.
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That's a reasonable take. It's also a convenient one for anyone bullish on these protocols, so it's worth holding it at arm's length a little. The fee revenue drop is real.
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What's not unclear is the throughput story. Going from 15 to 26 transactions per second is a meaningful jump, and the expanded block gas limit made that possible without…
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The staking number is worth sitting with too. 40.2 million ETH locked up as active stakes, representing a third of total supply. That's not a network people are abandoning.
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Related: Zilliqa Kills Native Transactions After 7-Year-Old Ledger Private Key Bug Surfaces
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And the ETH revenue figure — 31,166 ETH in Q2 versus 27,670 ETH in Q1 — is the kind of detail that gets buried under the louder dollar headline.
The Currency Analytics
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