According to PANews, Matrixport tweeted that Ethereum blockchain revenue has fallen sharply since the Cancun upgrade in March. Historical data shows that ETH prices are closely related to revenue fluctuations, and some analysts divide annual revenue by Ethereum market value to calculate the rate of return.
The sharp drop in revenue suggests that ETH may be due for a pullback. However, from August to September, Ethereum revenue has doubled, which suggests that the worst of the decline may be over. If this trend continues, ETH may see a rebound.
