CandleFocus Ethereum Transaction Revenue Has Surged Since Trump Election Victory: Steno Research
2024-12-03
Author: Content Editor
The transactional revenue on the Ethereum blockchain has seen a significant increase since Donald Trump's U.S. election victory, according to a report by Steno Research. This surge has led to higher staking rewards and an increase in ether being burned via transaction fees. Steno highlighted that the amount of USDT on the Ethereum network surpassed supply on the Tron blockchain for the first time in over two years, indicating a booming on-chain activity. The number of daily transactions on Ethereum layer-2 networks is also growing, and Steno expects this trend to continue. Additionally, Ether spot exchange-traded funds (ETFs) in the U.S. recorded their largest one-day net inflow on Friday and surpassed bitcoin versions for the first time. Overall, these developments strengthen Ethereum's tokenomics and make ether a more appealing asset.
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