"The Ethereum (ETH) network continues to lead the way in decentralized application (DApps) usage with high volumes and deposits. Although competing chains such as Solana (SOL) and BNB Chain (BNB) have Benefiting from lower transaction fees, there is nothing stopping well-funded entities from increasing the volume of Ethereum DApps 📈

Ethereum was the only network in the top 20 to report volume growth, with an impressive 83% increase over the previous week. Meanwhile, similar chains such as BNB Chain, Polygon (MATIC), Solana, and TON (TON) all lost average volume by more than 30%.

However, Ethereum's sharp increase in volume has not been accompanied by an increase in users. Using unique active addresses interacting with DApps as an indicator, Ethereum saw an 8% decrease in users compared to last week.

Data shows that Ethereum's total value locked (TVL) in decentralized finance applications dropped 17.5% in seven days, while rivals such as Solana and Avalanche (AVAX) attracted deposits.

Ethereum's volume growth is largely driven by a 422% increase in Balancer over seven days, totaling an impressive $40.6 billion. However, Balancer's significant volume increase was not accompanied by improvements in other metrics.

What do you think about this growth of Ethereum? Please leave your opinion below in the comments section!#Ethereum#cryptocurrency"