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The weekly transaction volume of Ethereum DApp surged by 83%, with Balancer accounting for 59.5% of the transactions

The weekly transaction volume of Ethereum DApp surged by 83%, with Balancer accounting for 59.5% of the transactions

Bitget2024/07/03 06:20

The weekly transaction volume of decentralized applications (DApps) on the Ethereum network surged by 83% compared to the previous week, but 59.5% of it came from a single application, Balancer. Despite the overall increase in transaction volume, the number of active users on Ethereum decreased by 8%, and TVL also fell by 17.5%. This growth is inconsistent with trends in other parts of the crypto market, and excluding Balancer's contribution, Ethereum DApp's weekly transaction volume actually dropped by 5%. This anomaly suggests that further analysis is needed to understand the real demand behind this increase in trading volume and potential manipulative behavior.

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