ETH Activity in Q2 Similar to That Before 2017 ICO Market Boom

Though some on-chain activity for is similar to the conditions before the price rallied to its all-time high in 2018, it failed to demonstrate the same bullish behavior in 2020.

According to a July report from Xangle Research on Decentralized Finance (DeFi) in Q2 2020, research analyst Jehn Kim determined that on-chain transaction volume on the Ethereum blockchain increased roughly 62%, around a 52-week high on June 23. Transaction fees also rose approximately 688%.

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