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Dear Bankless Nation,
One of the key documents to evaluate the health of a company is the quarterly earnings report. These reports include cash flows, profit and loss statements, and key growth indicators.
Ethereum isn’t a company… it can’t release its own quarterly report.
So we’re doing it instead.
This is Ethereum’s quarterly report.
The data that follows shows the massive year-over-year growth that Ethereum the protocol and Ethereum the ecosystem had between Q4’20 and Q4’21.
All available on chain for anyone to audit.
This is the economic data of an emerging digital nation. An economy that made stunning leaps of growth in the last 12 months.
The state of Ethereum is strong.
Ben digs into the Q4 numbers.
P.S. This piece pairs nicely with Ryan Allis’s recent Ethereum DCF Valuation 👀
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Bankless Writer: Ben Giove, Bankless Analyst