ETH's revenue for the first quarter of the year grew 46% to $2.4 billion

 

Ethereum's accumulated revenue rose 46% from US $1.6 billion to US $2.4 billion during the quarter

1. 1 in 2022. NFT market sales contributed to the growth of network revenues, which rose
2. over 19,000% during the period under review.

ETH's inflation rate decreased to 0.51%

Ethereum's revenue rose 46% from $1.6 billion to $2.4 billion during the first quarter of 2022, a new report by Bankless said. According to the report, about 87% or $2.1 billion of this revenue was removed from the rolling supply of ETH through the burning mechanism.

• The code burning mechanism was made possible by a EIP-1559 upgrade of the network conducted in August 2021.

• As a result of the token burning process

• the ETH network inflation rate

• a measure that measures net change in the supply of ethereum tokens - dropped from 1.10% to 0.51% during the first quarter.

In terms of average daily active titles, the report states that these titles rose from 507,662 to 529,018.

On the other hand, the number of ETH tied grew from 5.2 million to 10.9 million, an increase of 111%. The report said about this measure 

This represents the number of ETH stacked in Beacon Chain prior to Ethereum's transition from using the proof-of-action consensus mechanism (PoW) to proof of quota (PoS). Approximately 9.2% of the total supply of ETH is placed pending the expectation of "consolidation."

High NFT sizes

Meanwhile, the Bankless report revealed that the market volumes of non-replaceable symbols (NFT) rose by 19,290% from about $606.3 million to $116.4 billion. Only trading volumes in "NFT's two largest global markets" are Opensea and Looksrare. During the period under review, "there were 226,176 unique portfolios to either buy or sell NFT."

1. Regarding the number of portfolio addresses containing ERC721 code
2. the distinctive standard used for NFT version
3. the report said that these codes rose 306% from 981315 to 3.98 million.
4. In terms of the lower price of Cryptopunks 
5. a metric that tracks the lowest price at which the uniquely created letter is sold

the report revealed that this rose 513% from 17.42 ETH to 106.87 ETH. With regard to the ground price of the Bored Ape Yacht Club (BAYC), the report said

"While it was launched in the second quarter of 2021, the ground price of Bored Ape Yacht Club (BAYC), the most expensive NFT collection for profile picture by this metric, ended the quarter at 108.93 ETH which was worth about $351,000 based on prices at the time."