Ethereum Momentum Builds: Is Another Rally Coming?
Blockchain analytics tool DappRadar suggests that despite increasing competition from quicker and less expensive alternatives, decentralized application activity on the Ethereum blockchain may be on pace to equal or exceed last year’s. At the height of the most recent bull run, in 2021, Ethereum’s adoption peaked. According to DappRadar researcher Sara Gherghelas, that year also saw the most transactions on Ethereum and the greatest number of unique wallets.
After that, activity slowed, but engagement levels remained steady in 2023 and 2024. According to Gherghelas, this was prompted by a resurgence of interest in layer 2 ecosystems, experimental DeFi protocols, and non-fungible tokens.
This year appears on track to match or even surpass 2024, suggesting that the current market momentum might be sustainable. It remains a cornerstone of Web3, especially in high-value sectors like DeFi and NFTs.
Gherghelas
Ethereum Hits 234M Active Wallets as DeFi Leads the DApp Revolution
Over 234 million distinct active wallets have interacted with DApps on the network in the ten years that DappRadar has been monitoring Ethereum, according to the company. DeFi is the most popular wallet type, followed by NFTs and gaming. Meanwhile, it has monitored more than 452 million DApp-related transactions on Ethereum, with gaming coming in third, NFTs in second, and DeFi in first.
These numbers confirm its role not just as the first smart contract platform, but as the engine that continues to drive innovation and usage across the DApp ecosystem.
DappRadar
Ethereum Eyes Breakout as Network Activity and Futures Interest Surge
Given that network activity has increased by 7.2% over the past 30 days and that futures open interest reached a new high of $58 billion on Tuesday, some analysts think the price of Ether is poised for a breakthrough. Others are a little more wary, though, as the cost of borrowing wrapped Ether (wETH) has increased and technical signs suggest that it may be overpriced. According to CoinMarketCap, the price has been fluctuating between $3,530 and $3,933 over the past seven days, rising 6.2% during that time to trade at $3,861.
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