Ethereum DApp volume surges 38% in a month, hitting $3.54 billion in transactions, but will it fuel a bullish breakout for ETH?
decentralized application ecosystem has witnessed an impressive surge in activity, with volumes climbing by 38% over the past month.However, a critical question remains—will this on-chain activity drive a bullish breakout for ETH’s price?
Total transaction volumes have reached $3.54 billion as of the 19th of November 2024, while the number of daily unique active wallets surged to 78.53k, signaling growing participation in the ecosystem.Additionally, analysis reveals that in the last 30 days, its dApp volume rose to almost $150 billion, which was the highest.DeFi protocols have been the largest contributors to this growth, benefiting from higher total value locked as lending and trading activities gain momentum.
Additionally, ecosystem upgrades such as EIP-4844 are expected to improve scalability and network efficiency, potentially boosting Ethereum’s appeal.
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