Despite the prolonged bear market in Ethereum price, network activity It has shown remarkable growth and performance over the past few weeks. After reaching a decisive peak in network performance, major blockchains may be on the verge of achieving new major achievements.
A new record for Ethereum
In important developments, on-chain momentum Ethereum It is growing quietly but surely. With network performance and utilization increasing, networks are poised to make history, as revealed in a recent study by Leon Weidman, market expert and director of research at the Onchain Foundation.
In the meantime ethereum price Despite the population decline, its ecosystem was able to cope with the increased amount of activity throughout the year. In a post about X, Waidmann highlighted The ecosystem is on track to end 2025 with another record transaction high this December.
As seen on the chart, the major networks are dangerously close to challenging and surpassing their all-time highs again in the remaining days of this month. Interestingly, this strong performance highlights ETH’s continued role as a foundation for on-chain commerce.
Waidmann believes that Ethereum will be aggregated and the total number of transactions The proportion of Layer 2 continues to rise. Several other major chains such as Base, Arbitrum, Optimism (OP), World Chain, and ETH mainnet have all contributed meaningfully to the sudden surge in on-chain activity.
As the Ethereum ecosystem grows, that growth will not be driven by a single outlier, but will be distributed across the stack. These include decentralized finance (DeFi), non-fungible tokens (NFTs), layer 2 networks, and Real World Application (RWA).
The ETH network is dominating the DeFi sector
Ethereum’s network performance extends to the DeFi sector, where it appears to be leading the way, outpacing other major blockchains. After researching Dynamic Sectors, Ethereum narrator Joseph Young said: disclosed Currently, blockchain controls over 68.2% of all pure DeFi Total Value Locked (TVL).
Related Article: Ethereum Displaces Rivals to Lead in DeFi Lending Revenue – See How
In terms of value, more than $69.3 billion has been deployed in ETH smart contracts. The outcome highlights a new surge in capital concentration around blockchain’s underlying protocols. This is possible due to liquidity, developer activity, and institutional beliefs that still favor the network over other chains.
Young said this number exceeds DeFi capital. Solana Tron, Binance Smart Chain (BSC), Bitcoin, Avalanche, and all other chains together. As a result of this increased dominance, experts have declared ETH the most reliable Financial payment layer.
At the time of writing, Ethereum price is trading at $2,931, indicating a 1% decline in the past 24 hours. As the price turned negative, volume also turned bearish, dropping more than 7% in the past day.
Featured image from Pxfuel, chart from Tradingview.com
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