Ethereum’s transaction revenue has seen a notable surge since Donald Trump’s U.S. election victory, according to a recent report from Steno Research. This boost has not only strengthened Ethereum’s tokenomics but also increased staking rewards and driven more Ether (ETH-USD) to be burned through transaction fees. As the Ethereum blockchain continues to gain traction, these changes are becoming crucial for the entire on-chain ecosystem.
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Ethereum’s Increased Activity and Tokenomics Strengthen
Since Trump’s victory, Ethereum has experienced a significant uptick in its on-chain activity. Analyst Mads Eberhardt of Steno Research highlights that this surge in transactions has been a game-changer for Ethereum. The increase has led to more USDT flowing through the Ethereum network, surpassing supply on the Tron blockchain for the first time in over two years. This indicates a growing demand for Ethereum as the network’s primary means of facilitating transactions.
Furthermore, Layer-2 networks—known as rollups—are seeing more daily transactions, improving scalability and lowering costs. Though these rollups aren’t yet contributing massive fees, Steno projects that they could soon add significant value to Ethereum’s overall economy.
Ethereum’s Popularity Grows
The momentum doesn’t stop there. Ethereum’s Layer-2s are becoming more efficient, and recent data also shows that Ethereum exchange-traded funds (ETFs) in the U.S. recorded their largest single-day inflow, surpassing Bitcoin for the first time.
At the time of writing, Ethereum is sitting at $3,601.57.
