PANews reported on January 3 that Dune data showed that the on-chain adoption rate in 2024 will reach the 2021 level and set new highs in transfer volume and number of transactions:

• 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, and multiple weekly data have reached the peak level of 2021.

• Fee Decline: On-chain fees fall from $2 billion in November 2021 to $500 million in December 2024. Lower fees drive more transactions and adoption.

• Transfer volume hits new high: At the end of 2024, on-chain transfer volume exceeded the record of US$730 million in January 2022, reaching US$817 million in December. The annualized transfer volume is close to US$10 trillion, which is comparable to the scale of Visa.

• Surge in transaction volume: The number of on-chain transactions exceeded 1 billion for the first time in December 2024, three times the peak in 2021.