#OnChainLendingSurge work. These surges can be driven by a number of factors, including increased user growth, market sentiment, and partnerships. 

Examples of onchain surges

Ethereum: In the first half of 2024, onchain activity in Ethereum and Layer-2 blockchains increased by 127%. In November 2024, Ethereum's daily onchain volume reached $7.13 billion, which was the highest single-day volume of the year. 

Mantra (OM): In 2024, Mantra (OM) saw a 7,035% increase in value. This was due in part to a partnership with Zand, a digital bank in the UAE. 

XRP: A surge in onchain activity caused the price of XRP to increase. 

What onchain activity means

Onchain activity is recorded and verified on a blockchain's ledger, which is immutable. 

Onchain activity can indicate market sentiment. For example, outflows can signal bearish sentiment and increased selling pressure.