Ether.fi Spends $103M in July as User Base Expands

The Ether.fi protocol has been expanding its business scope by integrating card payments, transactions, and loans into an on-chain financial account. In July, the protocol's cash spending reached $103 million, a significant increase from January's $54.3 million. This growth is attributed to the expansion of the user base, with the number of monthly active addresses rising from 21,898 to 40,040.

The protocol has also introduced new features, including tokenized stock and metal trading, AAVE-integrated lending markets, and over 30 currencies and payment methods. The company reported that its membership exceeded 500,000, with an annual transaction execution rate reaching $2 billion.

Regarding revenue structure, the Ether.fi adapter estimates cash revenue at 1.38% of spending. If annual spending reaches $1 billion, the company's revenue before expenses would be $13.8 million. However, Alea Research noted that total tracked revenue has decreased by 22% due to weakened staking and falling ETH prices.