Ethereum 2023 Q2 Data Research: Gross Profit of $700 million, ETH Burn Rate Accelerated to 0.8%

Ethereum Q2 2023: Gross Profit - $700M, ETH Burn Rate - 0.8%

Crypto Clarity researcher Sam Andrew has released an unofficial Ethereum Q2 2023 data report, analyzing Ethereum’s operations and financial situation in four main areas: Ethereum operational indicators, Ethereum ecosystem (integrating L2 indicators), Ethereum profit and loss statement, and major influences. This article is translated by DeepL.

Q2 Operational Indicators: Daily Active Users in Q2 were 340,588, a YoY decrease of 3%; Average daily transaction volume was 1,046,592, a YoY decrease of 4%; The proportion of ETH staked in the total supply increased by 58% YoY and 13% QoQ, accounting for 17% of the total supply; The growth rate of the amount of ETH staked has slowed down; The average price in Q2 was $1,861, an increase of 55% YTD and 4% QoQ; TVL decreased by 41% YoY.

Ethereum Ecosystem: The daily average transaction volume of the entire Ethereum ecosystem reached 3 million in Q2 2023, up from 2 million in Q1 2023. The QoQ growth rate of daily average transaction volume of the entire Ethereum ecosystem accelerated from 17% in Q1 2023 to 50%. In Q2 2023, the daily average transaction volume of the Ethereum ecosystem increased by 139% YoY.

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Ethereum P&L: Total expenses in Q2 were 453,235 ETH ($843,470,335), a YoY decrease of 17%; Gross profit was 381,565 ETH ($710,092,465), with a gross profit margin of 84% for the quarter; Net income for Q2 was 227,147 ETH ($422,720,567), an almost three-fold QoQ increase; Ethereum burned more tokens than it issued in Q2.

Conclusion: 1) The spike in total expenses in Q2 was temporary; 2) The focus is on L2 solutions; 3) The growth rate of ETH staked has slowed down; 4) Ethereum’s operational leverage led to massive token burning.

Reference: https://www.techflowpost.com/article/detail_12440.html

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