Ethereum generated 7.3 billion USD in fees in the past year, indicating strong utility. This occurred alongside a 26% decline in ETH price, suggesting a potential shift towards utility-focused drivers of market behavior.
The number of whale wallets with 1,000 to 10,000 ETH increased by 6.5%. More than 21 million new Ethereum addresses were opened, reflecting the growing network and potential for a utility-driven market.
Stablecoin issuers contributed 4.3 billion USD in fees, while lending protocols and decentralized exchanges accounted for an additional 1.5 billion USD. This highlights the ongoing activity in Ethereum’s DeFi ecosystem.
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