Ethereum Transaction Revenue Surges Following Donald Trump’s Election Victory
Ethereum's transactional revenue has increased significantly since Donald Trump's election victory, according to a report from Steno Research. Analysts indicate this rise strengthens the Ethereum ecosystem and stimulates on-chain activity.
“This outcome is crucial for all onchain activity,” wrote Mads Eberhardt, an analyst at Steno Research.
The surge in revenue has led to higher staking rewards and increased ether burned through transaction fees, enhancing Ethereum’s tokenomics and attractiveness to investors.
Ethereum Surpasses Tron in USDT Circulation
The amount of USDT circulating on Ethereum has surpassed that on the Tron blockchain for the first time in over two years. This shift emphasizes Ethereum's increasing dominance in the blockchain space. The rise in on-chain activity boosts demand for ether for transactions, contributing to greater revenue.
Ethereum’s Layer-2 networks, known as rollups, are also experiencing significant growth. These protocols facilitate faster and cheaper transactions outside the main Ethereum blockchain. Daily transactions on these networks are rising, and Steno predicts this trend will continue.
Rollups help scale Ethereum's base layer and reduce network congestion while maintaining security. Currently, daily fees paid by rollups to Ethereum are low, but estimates suggest they could soon reach $1 million, providing a substantial boost to Ethereum's economic framework.
Ether ETFs Hit Record-Breaking $2.2B Inflows
Ether-focused exchange-traded funds (ETFs) in the US achieved a record milestone last Friday with the largest one-day net inflow ever, surpassing bitcoin ETFs for the first time. This indicates growing investor confidence in Ethereum's long-term potential.
Ethereum has attracted $2.2 billion in inflows this year, according to a CoinShares report published on December 2. This marks a $2 billion increase compared to 2021, establishing a new benchmark.
Bitcoin, while still dominant, recorded inflows of $34 billion but faced outflows of $457 million recently due to profit-taking as it approached the $100,000 mark. “Bitcoin saw outflows of US$457m, the first significant outflows since early September this year,” CoinShares noted.
Multi-asset crypto products and Solana also drew attention, attracting $441 million and $110 million in inflows, respectively. Despite experiencing outflows of $20 million this week, Solana recorded a $40 million inflow month-to-date, demonstrating resilience in a volatile market.