According to ChainCatcher, according to Token Terminal data, ETH Layer1 revenue has dropped sharply by 99% since March 2024. On March 5, network revenue peaked at more than 35 million US dollars. On September 2, daily revenue fell to about 200,000 US dollars, a yearly low.

Bitcoin investor Fred Krueger pointed out that Ethereum's current daily fee income of $200,000, equivalent to $73 million per year, is far from enough to maintain its $300 billion market value.