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Ethereum's financial performance in the first quarter of 2024 has seen a remarkable increase, with earnings tripling to $370 million from $119 million in the same period last year. This growth is attributed to a significant rise in revenue from transaction fees, which surged by 155% to $1.2 billion, and an overall increase in total revenue to $1 billion. The Ethereum mainnet experienced a substantial amount of gas fees, amounting to $369.11 million in Q1 2024, marking a 209.5% profitability increase from the previous year. Users spent a total of $1.17 billion on network gas fees, a substantial rise from $655 million in the quarter before.
.@ethereum racked up $1.2 billion in revenue from transaction fees in Q1 2024, or 155% more than in the first quarter last year. https://t.co/8I6bO5yXhH https://t.co/IiptBSCu5i
The Ethereum network's net profit amounted to $369.11 million in the first quarter of 2024, which is 209.5% more than in the same period last year https://t.co/dIEoISSgAT
ETHEREUM NOW 210% MORE PROFITABLE THAN SAME TIME LAST YEAR - According to Coin98, the first quarter of 2024 saw #Ethereum users spend a total of $1.17 billion on network gas fees - up from just $655 million the quarter before. - At the same time, Ethereum earnings (gas - costs)… https://t.co/Kj4vSxS1vW https://t.co/Cm5zVhkhOl
