Dune founder: 2024 is the year of breakthrough in on-chain adoption, with most indicators surpassing the 2021 peak

Dune founder @hagaetc said on the X platform, "In 2024, on-chain adoption reached 2021 levels, while also surpassing previous highs in transfer volume and number of transactions. Overall on-chain adoption is almost back to the 2021 peak. The cost of using blockchain has dropped significantly. From a certain perspective, this may be interpreted as a decrease in demand, but this may actually be a good thing. Most technologies have deflationary properties, so lower costs drive greater transaction volume. After several years of stagnation or decline, on-chain transactions in 2024 have grown exponentially. This fully illustrates how falling fees have driven increased usage. Despite regulatory resistance and uncertainty across the industry in 2024, this year is still a breakthrough year for on-chain adoption, with most indicators surpassing the peak of 2021."