Ethereum Far Outpaces Axie Infinity And All Crypto Projects On Record With 30-Day $ 900,000,000 Revenue Milestone

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Ethereum (ETH) protocol revenue in October eclipses Axie Infitinty (AXS) and other crypto protocols.

Data collected by crypto metrics site Token Terminal shows that the second largest cryptocurrency by market cap protocol revenue over the past 30 days has reached $ 932.8 million.

Ethereum’s revenue in October is more than five times that of the gaming blockchain platform to earn Axie Infinity, which generated nearly $ 185 million in revenue over the same period.

Source: Token Terminal

The decentralized Ethereum-based exchange dYdX (DYDX) recorded the third highest protocol revenue in the last month at $ 70.4 million, followed by OpenSea at $ 62.7 million and PancakeSwap (CAKE ) to $ 20.5 million.

Ethereum competitor Avalanche (AVAX) recorded the 16th highest protocol revenue with $ 2.9 million.

With Ethereum’s second straight month of monster revenue comes the rollout of the Altair Upgrade, which lays the foundation for Ethereum’s merger in a proof-of-stake system.

It also follows the recent implementation of EIP-1559, which introduced a new mechanism that burns a portion of Ethereum’s transaction fees in order to fight inflation.

ETH is trading at $ 4,428 at the time of writing, down slightly from the all-time fresh-printed (ATH) high of $ 4,467, according to CoinGecko.

AXS is also seeing new ATHs today, trading at $ 158.49 at the time of writing, down slightly from the all-new high of $ 162.24.

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Featured Image: Shutterstock / Paul Fleet

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