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Bitcoin and Ethereum Network Revenues Increase Despite Regulatory Challenges

Bitcoin revenue surged by 249% YoY in May, while Ethereum network fees increased by 53.7% in the same month, driven by adoption and enterprise usage. Despite regulatory and macroeconomic challenges, both blockchains generated strong network revenue.

The ETC Group's report also noted a rise in institutional interest in blockchain and tokenisation, with major banks considering adoption. However, regulatory actions by the US Securities and Exchange Commission against Binance and Coinbase continue to pose challenges for the crypto market.

In May, Europe's new rules attracted more US-based crypto businesses to the bloc, and major banks are exploring blockchain technology for tokenisation, with State Street and Citibank among those leading the way.

Bitcoin Bitcoin $92,048.65
-6.61%
Bitcoin Ethereum
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