Ethereum: IF it is listed on the New York Stock Exchange or Nasdaq, it could work like this…

• Ethereum revenue grew significantly in the first quarter despite price volatility
• ETH Price Starts to Go Green Again as Network Growth Slows

The price of Ethereum (ETH) has dropped significantly in recent days. However, it is worth looking at the bigger picture: it shows that the Ethereum network is performing very well, despite recent price fluctuations.

Ethereum had a very positive first quarter. In fact, Ethereum made a profit of $370 million on revenue of $825 million, which equates to a net profit margin of approximately 45%.

Ethereum revenues are growing

If Ethereum were listed on the New York Stock Exchange or NASDAQ, it would lead in net profit (%) followed by Microsoft, Adobe and Veeva. Based on the combined profits of all publicly traded software companies, Ethereum would rank sixth.

At the time of writing, Ethereum’s market capitalization is approximately $350 billion, putting it on par with tech giants like Salesforce.

However, there are important caveats to consider.

Ethereum’s historical performance may not have been as stellar, and its structure is different from that of traditional corporations. Unlike a typical company, the Ethereum token functions as a utility and a form of “equity.” Additionally, Ethereum’s valuation is significantly higher than that of traditional software companies when compared to revenue metrics.

How is ETH doing?

Ethereum’s growth in the first quarter and its potential for growth in the next quarter could contribute to the development of bullish sentiment on the network. Additionally, the revenue generated from L2 after the Dencun upgrade can also help the Ethereum network in terms of profitability.

Despite all these favorable developments happening with Ethereum, the price of ETH has dropped significantly over the past week. It depreciated more than 11% and crossed the $3,000 mark before recovering. However, after this sharp decline, interest in ETH increased.

Is your wallet green? Check out the Ethereum Profit Calculator

It’s worth noting here that AMBCrypto’s assessment of Santiment data showed that while ETH’s price has recovered, its network growth has stalled.

This indicated that the number of new addresses interacting with ETH had decreased. The lack of interest from new addresses in ETH could significantly affect the price movement of the altcoin in the future.

This is an automatic translation of our English version.