以太坊獲利能力飆升至數十億美元，挑戰熊市

以太坊的去中心化區塊鏈在 2024 年第一季創造了 3.69 億美元的利潤，主要來自交易費用和 ETH 的銷毀。這使得區塊鏈在回購收益率方面與全球頂級實體持平，凸顯了其獨特的獲利模式。儘管如此，ETH 的價格仍跌破 3,000 美元，但此後又反彈至 3,100 美元左右。

Ethereum Network Logs Quarter of Billions in Profit

以太坊網路利潤數十億美元

The Ethereum blockchain, the underlying technology powering the second-largest cryptocurrency, has defied the current market downturn, generating a remarkable $369 million in profit during the first quarter of 2024. This groundbreaking achievement places Ethereum among the most profitable software companies globally, underscoring its financial resilience and long-term viability.

以太坊區塊鏈是為第二大加密貨幣提供動力的基礎技術，它克服了當前的市場低迷，在2024 年第一季創造了3.69 億美元的驚人利潤。躋身全球最賺錢的軟體公司之列，突顯了其財務彈性和長期生存能力。

According to a comprehensive analysis by renowned blockchain data firm Token Terminal, Ethereum's revenue stream primarily stems from network fees, known as "gas," paid by users for executing transactions on the blockchain. The report highlights that while gas prices surged to record highs in early March, they have since moderated, stabilizing at yearly lows.

根據知名區塊鏈數據公司Token Terminal的綜合分析，以太坊的收入來源主要來自於用戶在區塊鏈上執行交易所支付的網路費用，即「gas」。報告強調，雖然天然氣價格在三月初飆升至歷史新高，但此後價格放緩，穩定在年度低點。

In a striking twist, a substantial portion of the gas fees collected is permanently removed from circulation through a process called burning. This systematic destruction of ETH benefits existing holders, as it reduces the overall supply, making each remaining ETH more valuable, particularly during periods of high demand.

令人驚訝的是，所收集的大部分燃氣費用透過稱為燃燒的過程永久地從流通中去除。這種對 ETH 的系統性銷毀有利於現有持有者，因為它減少了整體供應量，使剩餘的 ETH 變得更有價值，特別是在需求旺盛時期。

Furthermore, the network incurs expenses in the form of issuing new ETH to validators and stakers as an incentive for securing the blockchain. Notably, the difference between the daily value of burned ETH (revenue) and newly issued ETH (expenses) constitutes the daily earnings for ETH holders.

此外，網路還會以向驗證者和利害關係人發行新 ETH 的形式產生費用，作為保護區塊鏈的激勵措施。值得注意的是，銷毀的 ETH（收入）和新發行的 ETH（費用）的每日價值之間的差額構成了 ETH 持有者的每日收益。

Prolific crypto investor and Ethereum enthusiast Ryan Sean Adams extolled Ethereum's unique financial prowess, emphasizing that over the past 18 months, the network has generated nearly $1 billion in earnings. This places Ethereum among the top 20 global entities in terms of buyback yield, a remarkable feat for a blockchain of its age.

多產的加密貨幣投資者和以太坊愛好者 Ryan Sean Adams 讚揚了以太坊獨特的財務實力，強調在過去 18 個月中，該網路已產生近 10 億美元的收入。這使得以太坊在回購收益率方面躋身全球前 20 名實體之列，這對於當時的區塊鏈來說是一項了不起的壯舉。

"This puts Ethereum in the top 20 entities globally in terms of buyback yield at 0.23%. Ethereum is only 9 years old. ETH should be over $10k based on this alone," Adams remarked.

Adams 表示：「就回購收益率而言，以太坊躋身全球前20 名實體之列，回購收益率為0.23%。以太坊只有9 年的歷史。光是這一點，以太坊的價值就應該超過1 萬美元。

Echoing Adams' sentiment, renowned venture capitalist Tomasz Tunguz proclaimed Ethereum as "the most profitable software company in Q1 2024." He elaborated that Ethereum's financial performance exceeded established tech giants, with a whopping $370 million in profit on $825 million in revenue, translating to a staggering 45% net income margin.

著名創投家 Tomasz Tunguz 呼應 Adams 的觀點，宣稱以太坊是「2024 年第一季最賺錢的軟體公司」。他詳細闡述了以太坊的財務表現超過了老牌科技巨頭，其利潤高達 3.7 億美元，收入高達 8.25 億美元，淨利潤率達到驚人的 45%。

"If Ethereum were to trade on the New York Stock Exchange or the NASDAQ, it would top the net income margin (%) charts, with Microsoft, Adobe, and Veeva thereafter," Tunguz added.

Tunguz 補充說：“如果以太坊在紐約證券交易所或納斯達克交易，它將位居淨利潤率 (%) 排行榜榜首，其次是微軟、Adobe 和 Veeva。”

Despite Ethereum's financial triumph, the ETH market has faced headwinds recently, with the asset briefly dipping below $3,000 for the first time in two months. However, the trend swiftly reversed, and ETH, along with the broader cryptocurrency market, has rebounded to approximately $3,100 at the time of writing.

儘管以太坊取得了財務上的勝利，但 ETH 市場最近卻面臨阻力，該資產兩個月來首次跌破 3,000 美元。然而，這一趨勢迅速逆轉，在撰寫本文時，ETH 以及更廣泛的加密貨幣市場已反彈至約 3,100 美元。

While ETH has retreated around 25% from its 2024 peak and remains 38% below its 2021 all-time high, Ethereum's underlying strength, as evidenced by its remarkable profitability, offers a beacon of optimism amidst market volatility. The network's ability to generate significant earnings, coupled with its ongoing technological advancements, positions Ethereum as a formidable force in the digital asset landscape.

儘管ETH 已較2024 年的峰值回落約25%，且仍比2021 年的歷史高點低38%，但以太坊的潛在實力（其卓越的盈利能力證明了這一點）在市場波動中提供了樂觀的燈塔。該網路產生可觀收入的能力，加上其持續的技術進步，使以太坊成為數位資產領域的一股強大力量。