IoTeX Q4 2024: 1267% Transaction Surge Drives Network Fees to $448,500

Messari, a leading blockchain analytics firm, has released its Q4 2024 On-chain State Analysis Report for IoTeX, revealing a staggering 1,267% increase in average daily transaction volume. This surge in activity follows the successful launch of IoTeX 2.0, which has significantly enhanced the network's functionality and interoperability.

The report highlights several key developments on the IoTeX network during the fourth quarter of 2024. Notably, the total network fees surged by 205% to reach $448,500, driven primarily by increases in Gas fees and DEX fees. This growth reflects the increasing adoption and usage of the IoTeX network by users and developers.

IoTeX has also made significant strides in AI and DePIN integration. The network launched an autonomous AI agent called BinoAI, built on the ai16z-based ELIZAOS framework, and partnered with Eliza Labs to advance the creation of DePIN-AI agents capable of perceiving and responding to the physical environment through DePIN data. Additionally, the Quicksilver middleware framework was introduced to provide technical support for connecting DePIN data with AI agents, further bridging the physical and digital worlds.

At the network level, IoTeX released version 2.1 in December, introducing Cancun EVM compatibility to further enhance network functionality and strengthen interoperability with Ethereum. These updates and partnerships have solidified IoTeX's leading position in the field of DePIN and AI integration, positioning the network to continue driving the development trend of decentralized physical infrastructure networks in 2025.