Back to overview 10.08.2021

ETC Group's Q2 Markets' Report reveals $3 billion annualized revenue run rate for Bitcoin

Bitcoins ARR in April 2021 is more than Square in 2018, and Shopify in 2020.

ETC Group's Q2 Markets' Report

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London, 10 August 2021. ETC Group has today released its Q2, 2021 market reports for Bitcoin, Ethereum and Litecoin. The research, available on https://etc-group.com/blog/ , shows that

  • For the month of April 2021, Bitcoin generated annualized revenue run rate of $2.986 billion USD;
  • This exceeds the ARR of Square in 2018 ($2.982 billion) and Shopify in 2020 ($2.929 billion);
  • Year on year, fees generated from Ethereum transactions have increased more than 5000% YOY.

The quarterly research, released for the first time by ETC Group, analyses the performance of Bitcoin, Ethereum and Litecoin as well as providing commentary and analysis on market and technical developments. The annualized revenue run rates are calculated from the total transaction fees, also known as network revenue, paid to crypto miners in any period.

Bradley Duke, CEO of ETC Group comments: "In the past few months we've seen leading cryptocurrencies generate more income through transaction fees than some of the world's most valuable companies have done in recent years. We're seeing increasing adoption of crypto assets, on institutional balance sheets in place of cash treasuries, and now even in government pension funds. More broadly we're seeing growth in crypto payments, and while some countries continue to adopt a cautious or hostile stance to bitcoin others like El Salvador have made historic strides to integrate bitcoin into their national currency models."

Other highlights from the reports include:

  • Total transaction volumes on Ethereum increased over 2,000% YOY in Q2 ($777.1 bn in Q2, 2021 compared to $36.7 billion in Q2, 2020);
  • Decentralized exchange (DEX) volume increased over 8,300% YOY in Q2 ($283.8 billion in Q2 2021, compared to $3.4 billion in Q2 2020);
  • Q2, 2021 saw the most significant US$ value transfer in Litecoin's history totalling $28.1 billion. This value eclipses the previous largest day on December 21 2017, which reached an astonishing $11.5 billion.

The full Q2 reports, including notes on the research, are available at www.etc-group.com where anyone can also register to receive future reports as well as ETC Group's weekly research report #CryptoMinutes.

BTC Q2 2021 results: https://etc-group.com/blog/btc_q2_2021_report/

ETH Q2 2021 results: https://etc-group.com/blog/eth_q2_2021_report/

LTC Q2 2021 results: https://etc-group.com/blog/ltc_q2_2021_report/

Cryptocurrencies are highly volatile, and your capital is at risk.

Disclaimer:https://bit.ly/etcdisc

Media information

Media enquiries: etc.group@clarity.pr

About ETC Group

ETC Group ( www.etc-group.com )is specialized in developing innovative digital asset-backed securities and is backed by a number of major London-based financial institutions. Shareholders include firms such as XTX Ventures, the venture capital arm of electronic market-making firm XTX Markets. ETC Group's securities are marketed by HANetf.

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