Ethereum is celebrating its 10th anniversary with new data showing its unmatched impact on decentralized finance (DeFi) and non-fungible tokens (NFTs).
Figures released by DappRadar highlight the network’s central role in driving crypto adoption and on-chain activity over the past decade.
Since its launch, Ethereum has recorded more than 234 million unique active wallets interacting with decentralized applications. DeFi accounts for 74 per cent of this activity, while NFTs make up 10 per cent, gaming 3 per cent, and other applications 13 per cent. Ethereum has also processed more than 452 million dapp-related transactions, with DeFi representing 71 per cent of the total and NFTs 18 per cent.
The network’s peak activity came in 2021 during the last crypto bull run, but engagement has remained steady. DappRadar reports that 2023 and 2024 saw consistent growth driven by NFT demand, layer-2 scaling solutions, and experimental DeFi projects. Early data from 2025 suggests the year is on track to match or exceed 2024, reinforcing Ethereum’s position despite growing competition from faster, lower-cost blockchains.
DeFi protocols remain the network’s biggest driver, with eight of the ten most-used dapps on Ethereum belonging to the sector. NFTs continue to thrive as well, with 58 billion dollars in total trading volume, 49 million sales, and an average NFT price of 1,185 dollars recorded over the past decade.
Blur has emerged as a leading NFT marketplace on Ethereum, at times overtaking OpenSea, while top NFT collections account for 37 per cent of total trading volume, underscoring the chain’s dominance in high-value crypto assets.
The NFT market is also showing strong signs of revival, with July marking a decisive rebound in both investor confidence and capital inflows. A new report by DappRadar reveals that total market capitalization surged 94 per cent during the month, reaching nearly 7 billion dollars, while weekly trading volume jumped 51 per cent to 136 million dollars.
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