Matrixport: Sharp decline in Ethereum revenue suggests that its price may experience a pullback

On October 7th, Matrixport stated on the X platform that since the Cancun upgrade in March, Ethereum blockchain revenue has significantly declined. Historical data shows that ETH prices are closely related to revenue fluctuations, and some analysts even calculate the yield by dividing annual revenue by Ethereum market value. The sharp decline in revenue suggests that ETH may experience a pullback. However, from August to September, Ethereum revenue has doubled, indicating that the most severe decline may have ended. If this trend continues, ETH may see a rebound.