Ethereum (ETH) October protocol revenue is outperforming Axie Infitinty (AXS) and other crypto protocols.
Furthermore, Data from crypto metrics site Token Terminal shows that Ethereum protocol revenue over the last 30 days hits $932.8 million.
Also, Ethereum October revenue inflow is over five times that of the play-to-earn blockchain platform Axie Infinity. Which of course, sits nearly $185 million in revenue during the same period.
Notably, decentralized exchange dYdX (DYDX) based on Ethereum records the third-highest protocol revenue. Additionally, it records $70.4 million over the past month, after OpenSea at $62.7 million and PancakeSwap (CAKE) at $20.5 million.
Meanwhile, Ethereum competitor Avalanche (AVAX) has the 16th-highest protocol revenue at $2.9 million.
More so, Ethereum’s second-consecutive monster month of revenue comes of the heels of the rollout of the Altair upgrade.
Which of course, is laying the groundwork for Ethereum’s merge into a proof-of-stake system.
Lastly, the upgrade also permits the recent implementation of EIP-1559. Then, with a new mechanism that burns a portion of Ethereum transaction fees as a way of countering inflation.
Currently, ETH is trading at around $4,328 at time of writing, just a slight decline from it all-time high (ATH) of $4,467.
Also, AXS is touching new ATHs today, trading at $143.49 at time of writing, a slight decline from high of $164.24.
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