On November 15, the daily on-chain value transferred in Ethereum, measured by the 7 DMA, reached a year-to-date high of $7.13 billion, according to data from The Block.
Over the past two weeks, this figure surged by 85% from $3.84 billion as of November 1.
The metric exceeded the previous peak in March by 1%, indicating a recovery in network activity amid a cryptocurrency market rally, the publication noted.
November marked a turning point in this trend, coinciding with Donald Trump’s victory in the US presidential election and growing interest in ETH-ETF.
From November 9 to 15, a record $515.2 million flowed into products. During the current incomplete week, investors withdrew $162.8 million.
Looking ahead, Ethereum’s on-chain activity is expected to experience another acceleration due to potential strengthening of bullish sentiments, The Block highlighted.
In November, Ethereum co-founder Vitalik Buterin discussed the development and prospects of the second-largest cryptocurrency by market capitalization.
Earlier, the expert published a six-part essay titled “The Possible Future of the Ethereum Protocol.”