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Analysis: ETH burn after Cancun upgrade dropped 84% compared to before upgrade, Ethereum revenue dropped 69%
2024-08-22 03:09
Odaily News Galaxy Digital released a research report analyzing the impact of Blob on Layer2 and Ethereum in the 150 days of the Cancun upgrade. The main points include: · Ethereum's revenue and ETH supply burn have both decreased significantly, with total revenue 69% lower than the average of the 150 days before the upgrade, and ETH burn 84% lower than the average of the 150 days before the upgrade. · Layer2 profit margins have increased, with Optimism type profit margins increasing from 22.65% to 92.3%, and ZK type profit margins increasing from 27.27% to 66.7%. · Layer2 operating costs have dropped significantly, from an average of $1.07 million per day to $556,400. · Trading activity and failure rates have increased significantly, possibly due to increased robot activity.