Ethereum Transaction Revenue Soars Following Trump’s Election, Steno Research Reports

Ethereum’s transaction revenue has surged significantly since Donald Trump’s U.S. election victory, according to a Monday report by Steno Research. This increase has resulted in higher staking rewards and a greater amount of ether (ETH) being burned through transaction fees, the report revealed.

Mads Eberhardt, an analyst at Steno, explained that this growth is essential for sustaining the momentum of on-chain activity. The rising staking rewards combined with the additional ether burn are enhancing Ethereum’s tokenomics, making ether a more attractive investment option.

Steno also highlighted that the total amount of USDT on Ethereum’s network has overtaken the supply on the Tron blockchain for the first time in over two years. This marks a significant shift in on-chain activity, which is driving up the demand for ether to facilitate transactions and contributing to the increase in Ethereum’s transaction revenue.

The number of daily transactions on Ethereum’s layer-2 networks, also known as rollups, is also on the rise. Rollups are secondary solutions built on top of Ethereum’s main chain that process transactions more efficiently, increasing speed and lowering transaction costs. While the daily fees paid by rollups to Ethereum are currently modest, Steno predicts that these fees could reach $1 million in the near future, which would provide a substantial boost to the network’s economic framework.

In a further sign of growing interest in Ethereum, Steno noted that Ethereum-based exchange-traded funds (ETFs) in the U.S. recorded their largest-ever one-day net inflow on Friday, surpassing Bitcoin ETFs for the first time. This growing inflow underscores increasing investor confidence in ether and suggests a positive outlook for Ethereum moving forward.