ETH Monthly Transaction Count Highest Since July 2022

ETH Monthly Transaction Count Highest Since July 2022

Ethereum (ETH) recorded its highest monthly transaction count in 20 months in January, with 36.02 million transactions.

This increase in activity is often attributed to an increase in user activity, as evidenced by the daily number of unique addresses active on the network.

However, Ethereum’s non-fungible tokens (NFTs) and Decentralized Finance (DeFi) ecosystems experienced a decline in January.

CryptoSlam data showed a 2% drop in NFT sales volume on Ethereum in January, with 138,465 transactions completed, totaling $356 million.

Interestingly, this fall did not mirror the general market’s performance, as the total volume of NFT sales across all collections increased by 41% in January.

Lastly, Ethereum’s DeFi sector experienced a 7% dip in its Total Value Locked (TVL) in the last month, with a current value of $31.85 billion.

(With inputs from Shikha Singh)

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