The second-largest cryptocurrency network has set a new record for transaction volume, while user fees have dropped to historic lows.
The seven-day average of transactions has approached 2.5 million, double the figures from last year. This surge in on-chain activity began in mid-December after a prolonged decline.
Despite the increased activity, the average gas fee has fallen to $0.15. Data from Etherscan shows even lower figures: token swaps cost about $0.03.
Source: Etherscan.The network's scalability has been enhanced by recent technical upgrades:
- In early December, developers activated the Fusaka upgrade;
- On January 7, a Blob Parameter-Only fork increased the limit of BLOB objects in a block from 15 to 21.
Demand for the blockchain is also supported by stablecoins. Standard Chartered noted that they account for up to 40% of all transactions. Jeffrey Kendrick, head of digital asset research, has already dubbed 2026 the "year of Ethereum."
At the same time, interest in passive income is rising: 36 million ETH is currently staked (30% of the market supply). The queue for validator launches has exceeded 2.5 million coins, the highest since August 2023.
As a reminder, Ethereum co-founder Vitalik Buterin stated that in 2026, the community will focus on privacy protection and user autonomy. According to him, the project will no longer compromise for the sake of mass adoption.