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Ethereum Revenue Soars to $10B, Outshining Tech Titans Microsoft and Facebook

Published September 27, 2023 12:48 PM
Teuta Franjkovic
Published September 27, 2023 12:48 PM

Key Takeaways

  • Despite uncertainty and a YoY decline, Ethereum has generated $10Bn in income in seven years.
  • It surpassed software giants such as Microsoft and Facebook.
  • As per sources, Ethereum’s network revenue could grow to $51Bn per year by 2030 from the current $2.6Bn.

Since its inception in 2015, Vitalik Buterin’s cryptocurrency, Ethereum, has amassed $10 billion in income, beating Facebook and Microsoft in terms of growth rate.

In practice, whereas Ethereum would have taken 7.5 years to reach the $10 billion revenue milestone, Facebook (now Meta) appears to have taken somewhat longer and Microsoft a full 19 years.

As Crypto Portfolio Manager at cryptocurrency brokerage firm Caleb & Brown points out , such a result suggests that crypto protocols, like software, may be the next to become worldwide.

Factors Influencing Ethereum’s Earnings

Ethereum’s popularity is driven by its versatility. Unlike Bitcoin, which primarily serves as a secure transactional network, Ethereum distinguishes itself by enabling the deployment of complex protocols across diverse industries. This adaptability makes Ethereum a preferred platform for applications in finance, gaming, art, and more.

As of September 26, Ethereum’s native cryptocurrency, ETH was trading  at approximately $1,625, with the Ethereum network boasting a market capitalization exceeding $195 billion.

Ethereum primarily generates revenue through transaction fees, denominated in gas. The cost of these fees varies depending on the complexity of the transaction.

Basic transfers have lower fees, while smart contract-based transactions, which ensure trustless execution, are usually more expensive. Transaction costs increase with the complexity of network transactions.

Ethereum’s transaction fee revenue goes to validators, who secure the network and confirm transactions. They earn block rewards and transaction fees for their role, incentivizing them to maintain network integrity and smooth operations.

Positive ETH Price Outlook

Positive predictions on the price of Ethereum (ETH) appear to be prevalent in September 2023.

These projections are based on ETH’s past performance in comparison to BTC and its four-year halving cycle.

In reality, it appears that ETH has outperformed BTC during bull markets, but during bear markets, ETH looks to suffer more than BTC.

At the time of writing, the price of ETH had increased by more than 15% over the previous year. In fact, ETH is currently valued $1.627 . However, by mid-April 2023, ETH had reached an annual price high of more than $2,000.

A $51 Billion Revenue Projection by 2030

In conclusion, the projected revenue potential of reaching $51 billion by 2030 not only underscores the untapped opportunities within the Ethereum network but also signifies the promising growth prospects that decentralized platforms may experience in the years ahead.

Despite market uncertainties, Ethereum’s versatility and applications position it for sustained growth, showcasing blockchain’s transformative potential across industries

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