In the effervescent world of cryptocurrencies, Ethereum, a well-known smart contract platform, has just achieved an impressive milestone. It has reached the US$10 billion mark in accumulated revenue since 2015, presenting a performance that puts some of the most iconic global technology companies to shame.
To put it in perspective, while Ethereum took around 7.5 years to achieve this feat, social media giant Meta (formerly known as Facebook) took a little longer than that, and Microsoft, the indomitable software company , took a comparative eternity of 19 years.
How did Ethereum manage to raise so much in such a short time?
The answer hides in the details of the operation. The Ethereum network generates revenue mainly through fees associated with various activities. They are: the use of decentralized financial applications, the proliferation and trade of NFTs, in addition to sending payments in cryptos, among other actions.
However, not everything moves at a fast pace. Compared to last year, Ethereum’s revenue saw a significant drop of over 77%. But, before the alarm sounds, it is important to highlight that so far this year, the network’s revenue has already totaled US$1.7 billion, according to data from Token Terminal. And the projections are optimistic: a recent analysis by VanEck suggests potential growth in Ethereum revenues, which could jump from US$2.6 billion annually to an impressive figure of US$51 billion by 2030, if adoption continues at an increasing pace.
If Ethereum continues to follow this pace, the next few years could be decisive and full of new records. At the time of publication, the price of ETH was quoted at US$1,589.68, down 0.5% in the last 24 hours.
The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.