Ethereum Transaction Revenue Soars After Recent Events
Ethereum’s on-chain activity has seen a significant increase following the recent US election, according to data from Steno Research. The popular cryptocurrency has experienced a surge in on-chain transactions, with billions of dollars flowing into Ethereum-based ETFs and an uptick in the circulation of stablecoin USDT.
This spike in activity suggests growing interest and investment in Ethereum following the uncertainty surrounding the election. Inflows into Ethereum ETFs have reached a staggering 2.2 billion dollars, reflecting a renewed confidence in the digital asset.
Additionally, the circulation of USDT, a stablecoin pegged to the US dollar, has also seen a notable increase. This indicates a rise in trading activity and liquidity within the Ethereum ecosystem, as traders and investors seek safe haven assets during times of market volatility.
Overall, these trends point to a positive outlook for Ethereum in the wake of the US election. The surge in on-chain activity, coupled with increasing investment in Ethereum-based products, bodes well for the future growth and adoption of the popular cryptocurrency.
