Ethereum resembles the tech stocks of the 90s: in July, the asset's value increased by 56%

Ethereum ended July with its best monthly performance in three years, rising by 56%. Analysts compare it to the tech stocks of the 90s, pointing to a strong influx of investments in Ethereum ETFs and growing attention from institutional investors.

At the beginning of July, ETH was trading at $2468, and by the end of the month, its value soared to $3862. This impressive jump marked the first 50% monthly increase since July 2022, when Ethereum saw a similar rise of 56.62%.

"The revenue generated by the Ethereum network is very low," says Tilen. Over the past six months, it has hardly increased. Network activity grew by only 5% per month, while revenue grew by 3%. Interestingly, 90% of trading activity occurs during Asian trading sessions.

Today, the picture is different: Ethereum's market capitalization is $466 billion, and its annual revenue is just $764 million, according to Token Terminal.