Ethereum DApp weekly transaction volume surged by 83%, with Balancer accounting for 59.5% of transactions.
Weekly transactions of decentralized applications (DApps) on the Ethereum network surged 83% compared to the previous week, but 59.5% of this was from the single application Balancer. Despite the overall increase in transactions, the number of active Ethereum users decreased by 8% compared to the previous week, and TVL also decreased by 17.5%.
This increase is at odds with the trend in the rest of the crypto market, and excluding Balancer's contribution, Ethereum DApps actually saw a 5% decrease in weekly trading volume. This anomaly suggests that further analysis is needed to understand the real demand and potential manipulation behind the increase in trading volume.