Ethereum daily transactions have soared to 1.87 million, nearly reaching the all-time high of 1.96 million set in January 2024. This surge is largely attributed to increased engagement with stablecoins such as USDC and Tether, alongside heightened activity on decentralized exchange Uniswap. Analysts point to the passing of the GENIUS Act, which provides a regulatory framework for stablecoins in the U.S., as a boost to market confidence and liquidity from recently approved ETFs in traditional markets. The growing interest in meme coins and token launches on Layer-2 networks like Polygon has also fueled the increase in on-chain transactions. Despite Ethereum's uptick, Solana remains dominant in meme coin activity, capturing approximately 90% of the volume. The Ethereum network continues to recover from diminished user demand, with a total value locked (TVL) in DeFi applications reaching $137 billion, where Ethereum represents 59%. However, experts caution about the sustainability of this transaction volume amidst potential macroeconomic shifts expected in early 2026.

Source 🔗