Odaily Planet Daily reported that according to data from The Block, the on-chain transaction volume of Ethereum reached $183.74 billion in November, setting the highest monthly transaction volume of the year so far. This is also the highest on-chain transaction volume for Ethereum in nearly three years since the $241 billion in December 2021. Although this figure is far from the historical peak of $404.93 billion set in May 2021, November's performance indicates that the level of trading activity has stabilized. Compared to the annual peak set in March, this figure has steadily increased by 9%, nearly doubling the annual lowest on-chain transaction volume of $107.93 billion in January. Analysts say this growth may be driven by capital rotation, as market participants lower their risk curve and reallocate funds from centralized exchanges (CEX) to on-chain activities.

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