Ethereum Revenue Drops 44% in August Amid $4,957 ATH

- On-chain revenue declines 44% from July to August. - Network fees drop 20% despite new all-time high. On September 7, 2025, Cointelegraph reported that Ethereum’s monthly revenue fell drastically in August. Revenue dropped 44%, from $25.6 million in July to $14.1 million, while network fees fell 20% from approximately $49.6 million to $39.7 million. These drops occurred even as Ethereum’s price hit an all-time high of $4,957 on August 24. Many attribute the revenue contraction to the Dencun upgrade, which the network implemented in March 2024. This upgrade aimed to lower transaction costs for layer-2 scaling solutions that use Ethereum's base layer. Although the upgrade effectively reduced fees, it also sparked debates within the community about Ethereum's long-term financial sustainability as a layer-1 blockchain. Despite these financial hurdles, institutional confidence in Ethereum remains robust. Etherealize, a firm focused on Ethereum’s institutional adoption, recently raised $40 million. The company plans to position Ethereum as a critical infrastructure layer for tokenized assets in traditional finance and will also educate organizations on its potential for yield-bearing staking and tokenized systems. Ethereum’s staking momentum further bolsters this narrative of institutional confidence. In early September, the staking queue reached a two-year high, fueling projections of the network's enduring appeal. This trend is reinforced as corporate treasuries increasingly adopt ETH staking strategies to generate yield, which solidifies the asset’s role in institutional portfolios as a productive, long-term holding. According to CoinMarketCap, Ethereum (ETH) was trading at $4,292.25 as of September 7 at 21:14 UTC. This price reflects a minor 0.38% change over the past 24 hours.