Messari released a report on IoTeX in the fourth quarter of 2023. Transaction demand on the IoTeX chain surged, and gas fees soared to more than 3,000%, exceeding $212,000.
Transaction activity increased by more than 1,800% quarter-on-quarter.
The surge in demand for on-chain transactions is driven by a combination of more than 230 decentralized applications (dApps) on the IoTeX network and off-chain computing. Governance node revenue has increased significantly. Although IOTX node rewards have been reduced by 2%, thanks to the steady growth of IOTX-USD price, verification nodes have achieved a 62% revenue growth, with total revenue reaching US$1.3 million.
