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Ethereum, Solana and Avalanche activity rises despite token slump
Bitwise said revenues declined even as on chain activity picked up, with ETH, SOL and AVAX each down more than 50% versus a year ago.
Crypto analytics firm Bitwise said activity on Ethereum, Solana and Avalanche increased even as token prices fell, according to The Block.
The Block reported that despite the busier networks, revenues declined, pointing to a weaker monetization picture alongside rising usage.
Bitwise also highlighted that ETH, SOL and AVAX are all down more than 50% compared with a year ago, underscoring the disconnect between network activity and token performance.
The Block summarized the result as higher usage with cheaper conditions, alongside lower revenue and significantly weaker prices year over year.
Latest closeEthereum $1,943.42 ▼0.5%|Solana $75.83 ▼1.0%