Data shows some shifts have taken place in the Ethereum ecosystem this year. Here’s how the shares of some popular transaction types have changed on the network in 2022.
Both DeFi And NFTs Have Taken A Hit In Dominance On Ethereum
As per the latest weekly report from Glassnode, the DeFi and NFT sectors both have similar dominance on the Ethereum blockchain now. The “dominance” here refers to the percentage of the total Ethereum gas usage that a particular transaction type is contributing to at the moment.
The ETH network hosts a very diverse ecosystem of applications made possible thanks to the smart contracts mechanism of the blockchain. Some of the popular constructs that have found a home on the network include non-fungible tokens (NFTs), decentralized finance (DeFi) applications, and stablecoins.
Here is a chart that shows how the individual dominances of these three transaction types have changed on the Ethereum network over the last few years:
As the above graph shows, the
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