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Ethereum’s network revenue plummeted 44% in August despite Ether hitting all-time high prices. The layer-1 blockchain saw fees drop to $14.1 million as transaction activity slowed. This divergence between token price and network fundamentals is raising questions about Ethereum’s economic model.
- Ethereum revenue dropped 44% in August to $14.1 million despite ETH reaching $4,957 all-time high
- Network fees decreased 20% month-over-month from $49.6M to $39.7M indicating reduced transaction activity
- Revenue decline occurred amid 240% ETH price rally since April, creating fundamental valuation concerns
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