Cryptocurrency research platform Messari, in a the new ReportEthereum réussite evaluation [ETH] In the third quarter of 2022. Titled “The State of Ethereum Q3 2022,” Messari found that the blockchain saw a surge in activity on the network in the third quarter over the last quarter. However, the network also recorded some sectoral declines and suffered a general decline in revenue due to its Layer 2 accroissement solutions activities.
In this case, has ETH seen some actual growth?
According to Al-Masari, the average daily transactions during the intact quarter amounted to 1.2 million. This was an increase of 6% over the accolé quarter of 2022. The rise in daily transactions was observed in ETH transfers and DeFi transactions, which according to the attentisme grew by 7% and 14% respectively during the quarter.
Furthermore, the growth in average daily transactions culminated in an increase in entreprenante addresses on Ethereum during the quarter. The network saw 550,000 entreprenante addresses per day, which is 5% growth from the previous quarter.
According to Messari, the general entente of entreprenante addresses on Ethereum resulted from an increase in entreprenante addresses on July 27. This was also when Chandler Guo announced plats for an Ethereum PoW fork and some “assistance activity” from Binance.
Over the quarter, Messari found that the ETH supply grew 0.7% or 4.2% annually. Messari also found that since the official target block difficulty for amélioration was identified in July, ETH call volumes have risen steadily across exchanges.
In bonus, the quotient of calls to sales also increased. According to the attentisme:
The quotient of calls to positions has also increased. The strike prices for these calls were larger at $5,000 for the September 30 expiry and $2,500 for the December 30 expiry. ETH has been hovering around $1,500 for the past few months when these bets could have been placed.”
Here comes the retreat
While ETH in chic contracts has been on an uptrend since 2020, the écrasement of Terra in May halted that growth, Messari reported. As of May 9, when Terra crashed, the intact percentage of ETH in chic contracts peaked at 30%. According to Messari, since the collapse of Terra, ETH in chic contracts has fallen.
Furthermore, due to a slight increase in tier 2 activities over the quarter, the network saw a decline in revenue. As a result, the overall fee on the chain has fallen to the lowest level since 2020. According to Messari, the continued decline in fees on the network will “directly affect betting yields in the post-merger world.”
Moreover, while daily ETH transfers and DeFi transactions saw growth over the quarter, daily NFT transactions and on-chain dentier transactions decreased by 17% and 41%, respectively.
Ethereum recorded an average of 181,000 NFT transactions per day over the quarter and 9,000 dentier transactions over the same period.
With integration out of its way, Ethereum developers are focusing on immeuble the network for mass emprunt. Next for the network is the Shanghai upgrade, where pre-stacked ETH will be available for withdrawal, and pluriel improvements to the network are expected.