Dune founder: On chain adoption rate returns to its 2021 peak in 2024, with three times the number of transactions compared to the 2021 peak

BlockBeats news, on January 2nd, Dune founder @ hagaoetc stated on social media that "in 2024, on chain adoption reached the level of 2021, while also surpassing previous historical highs in terms of transfer volume and transaction frequency. Overall on chain adoption has almost returned to its peak in 2021. The Dune on chain adoption index had an average monthly peak of 84 in November 2021, and reached 77 in December 2024. From the weekly data, several weeks reached the peak adoption level of 2021. The cost decreased from $2 billion in November 2021 to $500 million in December 2024. The cost of using blockchain has significantly decreased. From a certain perspective, this may be interpreted as a decrease in demand, but it may actually be a good thing. Most technologies have deflationary characteristics - cost reduction actually drives greater trading volume. The value of on chain transfers exceeded past highs for the first time at the end of 2024, reaching $730 million in January 2022 and $817 million in December 2024, with an annualized total transfer volume of $10 trillion, comparable to the transaction size of Visa. The number of transactions has tripled compared to the peak in 2021, and it exceeded 1 billion transactions for the first time in December 2024. After several years of stagnation or decline, on chain transactions in 2024 are growing exponentially. This fully demonstrates how the decrease in costs has driven an increase in usage. Despite facing regulatory resistance and uncertainty throughout the industry in 2024, it remains a breakthrough year for on chain adoption, with most indicators surpassing their peak in 2021