ETH onchain activity refers to all transactions and operations that occur directly on the Ethereum blockchain, involving its native cryptocurrency, Ether. This includes transfers of ETH, smart contract interactions, decentralized application usage, and network fees paid for these operations. High onchain activity typically indicates strong network utilization and demand for Ethereum’s computational resources. Metrics like daily active addresses and transaction count are key indicators.
Context
Monitoring ETH onchain activity provides critical data for assessing the health and adoption of the Ethereum network and its associated ecosystem. Fluctuations in this activity are often reported in crypto news, signaling trends in DeFi, NFTs, and broader network utility, thereby influencing market sentiment and investment decisions.
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