Ethereum Surpasses $10 Billion in Revenue Ahead of Major Corporations

Ethereum, the world's leading smart contract platform, has shown exceptional growth outpacing both Meta and Microsoft.

Ethereum Achieves $10 Billion in Revenue Ahead of Major Corporations. Photo: Nasdaq

As the second-largest blockchain network globally, Ethereum has generated over $10 billion in revenue since its launch in 2015. This growth rate surpasses many longstanding technology giants in development history, according to the latest report from Caleb & Brown.

Ethereum has generated $10 billion in revenue over the past 7 years. Source: Caleb & Brown, Token Terminal, Bloomberg

While Ethereum took approximately 7.5 years to reach $10 billion in revenue, Meta (Facebook) achieved this milestone in over 7.5 years, and Microsoft required 19 years.

Ethereum's impressive milestone is attributed to transaction fees and activities such as minting, NFT trading, crypto payments, and more. Unlike Bitcoin, which pioneered as digital gold and an uncensored transaction network, Ethereum serves as infrastructure for complex protocols. Its flexibility makes Ethereum a powerful enabler for financial applications, gaming, art, and beyond.

However, the current crypto winter headwinds are severely impacting the Ethereum ecosystem. Profits have plummeted significantly, down over 77% compared to the previous year. The 2023 revenue figure stands at $1.7 billion, according to Token Terminal's analysis.

Read more: Crypto winter hits hard, even Ethereum network in the red!

As of September 25, 2023, Ethereum's revenue is $1.7 billion. Source: Token Terminal

VanEck estimates annual revenue for the network could rise from $2.6 billion to $51 billion by 2030, reflecting a promising future for Ethereum.

At the time of writing, ETH is trading around $1,588 with a market capitalization exceeding $191 billion.

1D chart of ETH/USDT pair on Binance at 11:35 AM on September 27, 2023

Nevertheless, achieving its current stature has been an extraordinary collective effort over the past 8 years for the Ethereum project.