According to Token Terminal data, ETH Layer 1 revenue has fallen sharply, falling 99% since March 2024. On March 5, network revenue peaked at more than $35 million. On September 2, daily revenue has fallen to about $200,000, the lowest point in annual daily revenue. Bitcoin investor Fred Krueger pointed out that Ethereum's current $200,000 per day fee income is equivalent to $73 million per year, which is far from enough to maintain its market value of $300 billion.