Despite rising competition from cheaper and faster blockchains, Ethereum remains the go-to network for DeFi, NFTs, and other Web3 applications.
Growth in Unique Wallets and Transactions
The Ethereum platform has recorded over 234 million unique wallets and 452 million DApp-related transactions. DappRadar analysts point to Ethereum's consistent relevance in high-value sectors like DeFi, even during periods of broader market uncertainty.
Institutional Investment in Ethereum
Institutional appetite for Ethereum is also picking up. Data from the Strategic Ether Reserves shows that 65 corporate entities now collectively hold 2.73 million ETH, roughly 2.26% of the total supply, valued at over $10 billion.
Current Market Situation and Ethereum's Outlook
Ether is currently trading near $3,862, up 5.8% this week. Futures open interest recently hit a record $58 billion, while network activity rose 7.2% in the past month. Although some caution that wETH borrowing costs are rising and technical indicators appear overheated, others believe Ethereum may be on the verge of a major breakout.
Ethereum continues to maintain its significance as the leading platform for DeFi and NFTs, showcasing growth in institutional investor interest and user activity.
