Ethereum Transaction Revenue Sees Significant Growth After Trump’s Election, Reports Steno Research

Ethereum’s transaction revenue has experienced a substantial rise since Donald Trump’s U.S. election victory, as detailed in a report from Steno Research on Monday. This surge in activity has led to an increase in staking rewards and a higher amount of ether (ETH) being burned through transaction fees.

Steno analyst Mads Eberhardt noted that this uptick is vital for the continued strength of on-chain operations. The combined effect of higher staking rewards and increased ether burn is bolstering Ethereum’s tokenomics, making ether a more attractive asset for investors.

The report also highlighted that for the first time in over two years, the supply of USDT on the Ethereum network has surpassed that on the Tron blockchain. This shift indicates a significant rise in on-chain activity, which is driving up the demand for ether to process transactions and contributing to Ethereum’s growing transaction revenue.

Additionally, Ethereum’s layer-2 networks, or rollups, have seen a steady increase in daily transaction volumes. Rollups, which help Ethereum scale by processing transactions off the main network, are reducing costs and improving efficiency. While the current fees paid by rollups to Ethereum are not yet game-changing, Steno predicts that these could eventually reach $1 million per day, representing a meaningful addition to the network’s economic dynamics.

The report also noted that Ethereum spot exchange-traded funds (ETFs) in the U.S. had their largest-ever single-day net inflow on Friday, surpassing Bitcoin ETFs for the first time. This surge in ETF interest underscores the growing confidence in ether and further supports the positive outlook for Ethereum’s market.