Dune founder @hagaetc stated on platform X, "In 2024, the on-chain adoption rate reached the levels of 2021, while surpassing previous historical highs in transaction volume and number of transactions. The overall on-chain adoption is almost back to the peak of 2021. The costs associated with blockchain have significantly decreased. From a certain perspective, this could be interpreted as a reduction in demand, but it may actually be a good thing. Most technologies have deflationary characteristics, so lower costs can drive greater transaction volumes. After experiencing years of stagnation or decline, on-chain transactions grew exponentially in 2024. This fully demonstrates how the decrease in fees has propelled the increase in usage. Although the entire industry faced regulatory resistance and uncertainty in 2024, this year still marked a breakthrough year for on-chain adoption, with most metrics surpassing the peaks of 2021."