The Ethereum mainnet reached its highest ever quarterly transaction quantity within the first quarter of 2026, processing a complete of 200.4 million transactions.
This determine represents greater than double the rise seen in 2023, when the determine was round 90 million, indicating that the community is experiencing a powerful “U-shaped restoration”.
Nevertheless, the divergence between the community’s basic knowledge and worth efficiency is noteworthy. Ethereum’s worth has fallen by greater than 50% in comparison with its peak of round $5,000 in August 2025, and is at the moment buying and selling round $2,330.
In keeping with consultants, the principle driving power behind the rise in transaction quantity has been the rise in Layer 2 options and stablecoin utilization. Particularly, the Base and Arbitrum networks have elevated consumer engagement due to decrease transaction charges, and this exercise is mirrored again to the Ethereum mainnet via bridging and consensus processes.
Alternatively, Token Terminal knowledge exhibits that the stablecoin provide on Ethereum has reached a report excessive of $180 billion, accounting for roughly 60% of the worldwide market.
Analysts notice that the Dencun replace considerably decreased Layer-2 knowledge prices, however this hasn’t been mirrored to the identical extent in metrics like transaction charges and token burning.
*This isn’t funding recommendation.
