The on-chain data platform IntoTheBlock recently reported that the Ethereum (ETH) network’s revenues saw a significant increase this week. The network revenue nearly reached the highest level in the last two years, particularly due to the increase in speculative activity surrounding memecoins. IntoTheBlock‘s data indicates that Ethereum‘s main network revenue from transaction fees rose to $193 million this week. This figure is the highest since May 2022 and represents a significant 78% increase from the previous week.