Ethereum’s [ETH] network revenue fell by a massive 86% in the third quarter of 2022, according to the report released by Bankless (an informative site focused on crypto).
Reportedly, Ethereum recorded $1.96 billion in net revenue in the second quarter (Q2). Unfortunately, the third quarter was a paltry $274.12 million.
![Assessing how Ethereum [ETH] fared in all of Q3](https://statics.ambcrypto.com/wp-content/uploads/2022/10/Screenshot-2022-10-07-at-11.41.46.png "Assessing how Ethereum [ETH] fared in all of Q3")
Source: Token Terminal
Since this was the case, the Merge, which took place on 15 September, was not vital to revive the ETH network. As per the status of…
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