Ethereum quietly sets a record: 8.7M contracts deployed in one quarter

Onchain development activity on Ethereum has rebounded sharply, driven by tokenized assets, stablecoins and infrastructure, according to Token Terminal.

Despite sluggish Ether price action, developers are increasingly choosing Ethereum as a settlement layer, with the fourth quarter shaping up to be a record period for the network.

Data from Token Terminal shows that the number of new smart contracts created and published on the Ethereum blockchain reached an all-time high of 8.7 million in the fourth quarter.

The milestone marked a sharp rebound from the previous two quarters, when contract deployment activity was significantly lower.

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