Ethereum's mainnet reached its highest quarterly buying and selling quantity ever within the first quarter of 2026, processing a complete of 204 million transactions.
This quantity is greater than double the roughly 90 million enhance in 2023 and signifies a robust “U-shaped restoration” for the community.
Nevertheless, the discrepancy between the community's elementary knowledge and worth efficiency is noteworthy. Ethereum's worth has fallen greater than 50% since August 2025, when it reached a excessive of round $5,000, and is at the moment buying and selling at round $2,330.
In accordance with specialists, the principle drivers of elevated buying and selling quantity are the elevated utilization of layer 2 options and stablecoins. Particularly, the Base and Arbitrum networks enhance consumer engagement by way of decrease transaction charges, and this exercise is mirrored on the Ethereum mainnet by way of bridging and consensus processes.
In the meantime, the provision of stablecoins on Ethereum has reached an all-time excessive of $180 billion, accounting for about 60% of the worldwide market, in response to Token Terminal knowledge.
Analysts word that whereas the Dencun replace has considerably diminished layer 2 knowledge prices, this isn’t mirrored as a lot in metrics reminiscent of transaction charges and token burn.
*This isn’t funding recommendation.
