According to Odaily, Ethereum experienced significant growth in various sectors during November. Data disclosed by analyst Lars on the X platform reveals that Ethereum's staking revenue increased by 18.8%, reaching $263 million. This rise highlights the growing interest and participation in Ethereum's staking ecosystem.
Additionally, Ethereum's on-chain activities saw substantial developments. In November, 46,553 ETH were burned, equivalent to $147 million. Since the implementation of EIP-1559 in early August 2021, a total of 4.48 million ETH, valued at $12.6 billion, have been burned. This burning mechanism is part of Ethereum's strategy to reduce supply and potentially increase the value of the remaining tokens.
Moreover, the non-fungible token (NFT) market on the Ethereum blockchain also witnessed a notable surge. The transaction volume for NFTs reached approximately $196.3 million in November, marking a 61.5% increase. This growth indicates a renewed interest in digital collectibles and art, further solidifying Ethereum's position as a leading platform for NFT transactions.
