Messari releases IoTeX fourth quarter report for 2023: Gas fees soar by more than 3000%

Messari has released a report on IoTeX in the fourth quarter of 2023. The demand for on-chain transactions on IoTeX has surged, with gas fees skyrocketing to over 3,000%, exceeding $212,000. The quarter-on-quarter growth in transaction activity has exceeded 1,800%. The surge in on-chain transaction demand is driven by more than 230 decentralized applications (dApps) and off-chain computing on the IoTeX network. Governance node revenue has significantly increased, despite a 2% reduction in IOTX node rewards. Thanks to the steady growth in IOTX-USD prices, validation nodes have achieved a 62% increase in revenue growth, with total revenue reaching $1.3 million.