Ethereum’s Transaction Revenue Experiences Surge Following Trump’s Election Victory, Steno Research Reports
Ethereum’s transaction revenue has seen a substantial boost since Donald Trump’s U.S. election win, according to a report by Steno Research published on Monday. This growth has led to higher staking rewards and a larger amount of ether (ETH) being burned through transaction fees, the report indicated.
Mads Eberhardt, an analyst at Steno Research, emphasized that this increase is crucial for sustaining Ethereum’s on-chain activity. The combination of elevated staking rewards and the growing amount of ether being burned is strengthening the network’s tokenomics, making ether a more appealing asset for investors.
The report also noted that the amount of USDT (Tether) on the Ethereum network has surpassed the supply on the Tron blockchain for the first time in more than two years. This milestone highlights the increased on-chain activity and growing demand for ether to support transactions, which has contributed to Ethereum’s rise in transaction revenue.
Additionally, daily transactions on Ethereum’s layer-2 networks, or rollups, are rising. Rollups, which operate on top of Ethereum’s main blockchain, process transactions more efficiently by reducing congestion and lowering costs. While the daily fees paid by rollups to Ethereum remain modest, Steno Research forecasts that these fees could reach $1 million per day, marking a significant contribution to Ethereum’s economic ecosystem.
Steno’s report also pointed to a noteworthy development in the U.S. market: Ethereum-based exchange-traded funds (ETFs) recorded their largest single-day net inflow on Friday, surpassing Bitcoin ETFs for the first time. This surge in ETF investments reflects growing institutional confidence in ether and signals a promising future for Ethereum’s market performance.
