Decentralized application activity on the Ethereum blockchain could match or outperform last year, despite growing competition from “faster and cheaper” alternatives, according to blockchain analytics platform Dappradar.
The peak adoption at Ethereum was 2021, coinciding with the height of the last Bull Run, and was also the year of “Ethereum's most unique wallets and most transactions.”
According to Gherghelas, activity has since cooled, but in 2023 and 2024, a consistent level of engagement was seen through renewed interest in Impossible Tokens (NFTs), Layer 2 ecosystems, and experimental defi protocols.
This year, “it will “come back on track and along 2024, suggesting that the current market momentum could be sustainable,” she added, explaining it as “a cornerstone of Web3, especially in high value sectors such as Defi and NFTS.”
At this point, the 2025 Ethereum DAPP activity will be on track and surpassing 2024. source: Dappradal
Ethereum is the foundation of Web3: Dappradar
Over the past decade, Dappradar said it has recorded over 234 million unique active wallets that Defi drives and interacts with Dapps on the network where NFTs and games continue.
At the same time, it tracked over 452 million DAPP-related transactions at Ethereum, with DEFI leading, NFT second, and the game rounded out the top three.
Dappradar tracked 452 million DAPP-related transactions on Ethereum. sauce: Dappradal
“These numbers acknowledge their role not only as the first smart contract platform, but as engines that continue to drive innovation and use across the DAPP ecosystem.”
Ethereum prices may be on the breakout crisis
Some analysts believe ether prices are ready for breakout based on record interest of $58 billion on Tuesday and future open interest, which is up 7.2% over the past 30 days.
Others, on the other hand, are a bit cautious as the costs of borrowing enclosed ether (WETH) are skyrocketing and technical indicators point to possible overestimation.
Prices have been moving between $3,530 and $3,933 over the past seven days, trading at $3,862, up 5.8% over the same time frame.
Ethereum Treasury companies are thriving more than 2.73 million ether
Also, more companies are beginning to acquire cryptocurrency as financial assets. Currently, 65 strategic reserves (ETH) are held in 65 strategic reserves (2.26% of total supply is equivalent to $10.56 billion), according to strategic reserves.
Related: Ethereum 2035: What the next decade will look like
The strategic ether reserves show Bitmine as the largest ether financing company, followed by Sharplink games, followed by ether machines.
“The boom must go well with ETH flows and price actions similar to MicroStrategy's impact on Bitcoin,” said David Grider, partner at Venture Capital Firm Finality Capital, in an X post on Monday.
magazine: Tradfi is building Ethereum L2 to tokenize trillions of rwas – Internal Story
