According to on-chain metrics, the transaction volume of the largest smart contract network Ethereum (ETH) is increasing day by day.
Crypto-focused podcast Bankless shared some figures from the State of Ethereum Q1 2022 report.
The amount of Ethereum staked increased by 111% compared to the first quarter of 2021. Ethereum users raised $2.48 billion in fees compared to $1.7 billion last year.
With the implementation of EIP-1559, the Eth network destroyed $2.17 billion in assets, resulting in a 54% reduction in inflation.
On the NFT side, growth was noticeable. Net trading volume increased from $0.6 billion to $116 billion, a massive 19,200% increase.
The net volume of perpetual contracts on Ethereum-based DEXs also increased by 2700%, while the spot trading volume increased by 667%.
Total volume of locked assets (TVL) increased 964% in Ethereum-based Tier 2 solutions.
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