Home Ethereum Network Accounts 90% of L1 Revenues

Ethereum Network Accounts 90% of L1 Revenues

Share
Share

Ethereum Network Accounts 90% of L1 Revenues

A Messari report reveals that Ethereum’s revenues accounted for over 90% of the $491.5 million generated by layer 1 chains in Q3. 

The Aptos network saw revenues 160% higher than the previous quarter, indicating a significant increase in revenue. 

Despite a 47.3% QoQ drop in Ethereum’s Q3 revenue, it still accounted for nearly 91% of total revenues generated by layer 1 protocols. 

The Avalanche and Polygon networks had steeper revenue drops than Ethereum. The total revenues generated by the 17 examined L1s were 46.7% lower, or $491.5 million less. 

The market capitalization of all L1s also dropped by 9.8%, closing the quarter at $272.6 billion. The Ethereum network’s dominance remained largely unchanged. 

However, Aptos and NEAR networks had better fortunes in the quarter. Aptos’ revenues were 160% higher than the previous quarter, attributed to the protocol’s integration of social media platform Chingari. 

NEAR’s revenue growth rate was 56%, driven by the launch of AI-based lock screen platform Kaikainow.

(With inputs from Shikha Singh)

Share

Latest News

News
NYSE Parent ICE Invests $2B In Polymarket | 3.0 TV (3versetv)

NYSE Parent ICE Invests $2B In Polymarket At $9B Valuation

Intercontinental Exchange, the owner of the New York Stock Exchange, has made a $2 billion investment in the crypto-powered prediction platform Polymarket,...

News
BNY Mellon Trials Blockchain Deposits To Modernize Payment System | 3.0 TV (3versetv)

BNY Mellon Trials Blockchain Deposits To Modernize $2.5T Payment System

Bank of New York Mellon, which oversees $55.8 trillion in assets under custody, is piloting tokenized deposits to overhaul its $2.5 trillion...

News
SEC Targets 2025 Launch For Crypto Innovation Exemption Framework | 3.0 TV (3versetv)

SEC Targets 2025 Launch For Crypto Innovation Exemption Framework

U.S. Securities and Exchange Commission Chair Paul Atkins has unveiled plans to introduce a new “innovation exemption” by late 2025, aiming to...

News
Vietnam To License Only Five Crypto Exchanges | 3.0 TV (3versetv)

Vietnam To License Only Five Crypto Exchanges In Pilot Program Before 2026

Vietnam’s Ministry of Finance has confirmed plans for a limited cryptocurrency-exchange pilot program that will authorize no more than five operators before...

Latest Blogs

Bitcoin Spot vs. Derivatives Trading: What’s the Difference?

Why This Matters for Traders? Bitcoin traders who want to start trading need to understand the distinction between spot trading and derivatives...

Crypto Job Scams: How Hackers Trick Applicants and How to Stay Safe

The Rise of Crypto Job Fraud The rising interest in cryptocurrencies and blockchain technology has attracted scammers who exploit job seekers’ enthusiasm...

How Hackers Use Fake Phones to Steal Your Crypto?

Overview of Fake Phone Crypto Scams Smartphone adoption for financial management has led to sophisticated scams targeting crypto users who remain unaware...

Can AI Bots Steal Your Crypto?

The Rise of AI in Cybercrime: AI Stealing Crypto The advancement of technology in cybercrime has created a paradox because improved technology...

Related Articles

Bitcoin Spot vs. Derivatives Trading: What’s the Difference?

Why This Matters for Traders? Bitcoin traders who want to start trading...

Crypto Job Scams: How Hackers Trick Applicants and How to Stay Safe

The Rise of Crypto Job Fraud The rising interest in cryptocurrencies and...

How Hackers Use Fake Phones to Steal Your Crypto?

Overview of Fake Phone Crypto Scams Smartphone adoption for financial management has...

Can AI Bots Steal Your Crypto?

The Rise of AI in Cybercrime: AI Stealing Crypto The advancement of...