ChainCatcher news, Matrixport said on the X platform that Ethereum blockchain revenue has fallen sharply since the Cancun upgrade (Dencun) in March. Historical data shows that ETH prices are closely related to revenue fluctuations, and some analysts even divide annual revenue by Ethereum market value to calculate the rate of return.

The sharp drop in revenue suggests that ETH may be in a correction. However, from August to September, Ethereum revenue has doubled, indicating that the worst of the decline may be over. If this trend continues, ETH may rebound.

Keep an eye on the dynamics of the crypto market and learn more about the blockchain industry.