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