The decentralized network passes the $10 billion mark before big tech.
Since its inception in 2015, the main smart contract platform Ethereum has generated over $10 billion in total revenue. According to a recent analysis by crypto brokerage company Caleb & Brown, this growth rate is faster than that of many of the top software businesses in history.
Ethereum generated $10 billion in yearly revenue in around 7.5 years, beating out both Meta (previously Facebook) and Microsoft, who both took 19 years to do it.
Transaction fees and other income generated by Ethereum’s network helped the platform hit the $10 billion revenue mark. This encompasses cryptocurrency transactions, NFT minting and trading, fiat currency payments, and more.
However, due to the decline of the cryptocurrency industry as a whole, Ethereum’s income has dropped by more than 77% year over year. According to research conducted by the cryptocurrency analytics company Token Terminal, the decentralized network has generated $1.7 billion in income so far in 2023.
Ethereum’s network income may grow from $2.6 billion in yearly revenue to $51 billion by 2030, according to a new appraisal by VanEck.