Since mid-November, the number of transactions on EVM chains such as Fantom has surged more than 10 times
According to data from The Block dashboard, the number of transactions on alternative Ethereum Virtual Machine (EVM) chains, including Fantom, Avalanche, Celo, Polygon, and BNB Chain, has surged since mid-November. Fantom saw the highest increase, reaching 1,321%, with transaction volume growing from 239,920 on November 17 to 3.41 million on November 26. Celo grew by 1,277% in just four days, with transaction volume increasing from 277,500 on November 22 to 3.82 million on November 26. Polygon saw a 155% increase in transaction volume from November 14 to November 26, while Avalanche's transaction volume grew from 321,900 on November 18 to 3.08 million on November 26, an increase of 857%.
Rebecca Stevens, a data research analyst at The Block, noted that high transaction fees on Ethereum and the positive price trends of native tokens on EVM chains may be contributing to the increase in transaction volume.
