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Ethereum is processing close to 2.5 million transactions per day
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Average gas fees have fallen to historic lows
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Stablecoins now drive a large share of network activity
Ethereum is handling more transactions than ever before while charging users less than at any point in its recent history, marking a major shift for the network.
The seven-day average of daily transactions is approaching 2.5 million, nearly double the level seen a year ago. Activity has climbed sharply since mid-December, reversing a slow decline that had stretched through much of 2025.
At the same time, transaction fees have collapsed. Average gas costs are hovering around $0.15, with some estimates showing even lower fees for basic swaps. This combination of record usage and minimal costs is notable for a network that has long been criticized for high and unpredictable fees during periods of congestion.
The change is largely tied to recent protocol upgrades. Ethereum’s Fusaka upgrade, completed in December 2025, introduced PeerDAS and expanded blob capacity for Layer 2 rollups. These changes significantly reduced data costs for scaling networks, pushing more activity off the main chain while keeping overall throughput high.
Ethereum has also increased its block gas limit over the past year, easing pressure on mainnet blockspace. As execution shifts to Layer 2 networks, mainnet demand has softened even as total usage continues to grow.
Stablecoins are now a major driver of activity, accounting for roughly 35% to 40% of all Ethereum transactions. Staking has also surged, with nearly 30% of ETH supply now locked, tightening liquid supply while network participation continues to rise.
