DeFi Resurgence Spurs 37% Increase in Active Ethereum Addresses

Since November 1, the number of active Ethereum addresses (7 DMA) has surged by 37%, from 420,000 to 575,000. The catalyst has been a renewed interest in DeFi from institutional investors, according to The Block.

During the same period, the daily number of transactions (7 DMA) jumped from 1.08 million to 1.31 million.

Trading volume on Ethereum DEXs for January so far has reached $80.26 billion, according to DeFi Llama.

In December, the figure rose to a three-year high of $92.6 billion.

The publication described the resilience of the network’s on-chain metrics as “noteworthy,” given the current disagreements regarding its development direction and the strengthening position of Solana.

In the past 24 hours, Ethereum’s share of DEX trading volume was 15.48%, while its competitor’s was 35.64%. Over seven days, the absolute trading volume reached $20.39 billion and $62.2 billion, respectively.

In January, Ethereum co-founder Vitalik Buterin stated in a new article that the ecosystem will continue to scale primarily through L2 solutions.

Later, representatives of these solutions pledged to work on implementing so-called based rollups to enhance security and reduce network fragmentation.

Ethereum developers agreed to conduct the Pectra hard fork on the mainnet in early to mid-March.