以太坊盈利能力飙升至数十亿美元，挑战熊市

以太坊的去中心化区块链在 2024 年第一季度创造了 3.69 亿美元的利润，主要来自交易费用和 ETH 的销毁。这使得区块链在回购收益率方面与全球顶级实体持平，凸显了其独特的盈利模式。尽管如此，ETH 的价格仍跌破 3,000 美元，但此后又反弹至 3,100 美元左右。

Ethereum Network Logs Quarter of Billions in Profit

以太坊网络利润数十亿美元

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.

以太坊区块链是为第二大加密货币提供动力的基础技术，它克服了当前的市场低迷，在 2024 年第一季度创造了 3.69 亿美元的惊人利润。这一突破性的成就使以太坊跻身全球最赚钱的软件公司之列，突显了其财务弹性和长期生存能力。

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.

根据知名区块链数据公司Token Terminal的综合分析，以太坊的收入来源主要来自于用户在区块链上执行交易所支付的网络费用，即“gas”。该报告强调，虽然天然气价格在三月初飙升至历史新高，但此后价格有所放缓，稳定在年度低点。

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.

令人惊讶的是，所收集的大部分燃气费通过称为燃烧的过程永久地从流通中去除。这种对 ETH 的系统性销毁有利于现有持有者，因为它减少了总体供应量，使剩余的 ETH 变得更有价值，特别是在需求旺盛时期。

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，网络还会以向验证者和利益相关者发行新 ETH 的形式产生费用，作为保护区块链的激励措施。值得注意的是，销毁的 ETH（收入）和新发行的 ETH（费用）的每日价值之间的差额构成了 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.

多产的加密货币投资者和以太坊爱好者 Ryan Sean Adams 赞扬了以太坊独特的财务实力，强调在过去 18 个月中，该网络已产生近 10 亿美元的收入。这使得以太坊在回购收益率方面跻身全球前 20 名实体之列，这对于当时的区块链来说是一项了不起的壮举。

"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：“就回购收益率而言，以太坊跻身全球前 20 名实体之列，回购收益率为 0.23%。以太坊只有 9 年的历史。仅凭这一点，以太坊的价值就应该超过 1 万美元。”

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.

著名风险投资家 Tomasz Tunguz 呼应 Adams 的观点，宣称以太坊是“2024 年第一季度最赚钱的软件公司”。他详细阐述了以太坊的财务业绩超过了老牌科技巨头，其利润高达 3.7 亿美元，收入高达 8.25 亿美元，净利润率达到惊人的 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 补充道：“如果以太坊在纽约证券交易所或纳斯达克交易，它将位居净利润率 (%) 排行榜榜首，其次是微软、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.

尽管以太坊取得了财务上的胜利，但 ETH 市场最近却面临阻力，该资产两个月来首次跌破 3,000 美元。然而，这一趋势迅速逆转，在撰写本文时，ETH 以及更广泛的加密货币市场已反弹至约 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.

尽管 ETH 已较 2024 年的峰值回落约 25%，且仍比 2021 年的历史高点低 38%，但以太坊的潜在实力（其卓越的盈利能力证明了这一点）在市场波动中提供了乐观的灯塔。该网络产生可观收入的能力，加上其持续的技术进步，使以太坊成为数字资产领域的一支强大力量。