Dune founder: 2024 will be a breakthrough year for on-chain adoption, with most metrics surpassing the peak of 2021

ChainCatcher message, Dune founder @hagaetc stated on the X platform, "In 2024, on-chain adoption reached the levels of 2021, while surpassing previous historical highs in transaction volume and transaction counts. Overall on-chain adoption is nearly back to the peak levels of 2021. The costs associated with blockchain have significantly decreased.

From a certain perspective, this could be interpreted as a decrease in demand, but it may actually be a good thing. Most technologies have deflationary characteristics, so lower costs can drive greater transaction volumes. After a few years of stagnation or decline, on-chain transactions in 2024 are experiencing exponential growth. This clearly illustrates how the decrease in fees has driven an increase in usage.

Despite the regulatory resistance and uncertainty faced by the entire industry in 2024, this year remains a breakthrough year for on-chain adoption, with most metrics surpassing the peaks of 2021."