PANews reported on January 3 that Dune data shows that on-chain adoption in 2024 reached the levels of 2021, with new highs in transfer volume and transaction counts:
• Overall on-chain adoption rate: The Dune on-chain adoption index reached 77 in December 2024, second only to the peak of 84 in November 2021, with multiple weeks of data already reaching the peak levels of 2021.
• Decrease in fees: On-chain fees dropped from $2 billion in November 2021 to $500 million in December 2024. The reduction in fees has driven more transactions and adoption.
• Record high transfer volume: By the end of 2024, on-chain transfer volume surpassed the record of $730 million set in January 2022, reaching $817 million in December, with an annualized transfer volume approaching $10 trillion, comparable to Visa's scale.
• Surge in transaction numbers: In December 2024, the number of on-chain transactions exceeded 1 billion for the first time, three times the peak in 2021.
