The Ethereum network has processed a record-breaking 1.74 million daily transactions, signaling robust ecosystem growth fueled by surging decentralized finance (DeFi) activity, increasing ETH staking, and substantial institutional interest. The milestone highlights heightened demand and network utilization.
The surge in transactions correlates with a remarkable 163% increase in the price of ETH since earlier this year, pushing its value towards the $4,000 threshold. This upward momentum has been significantly influenced by recent regulatory shifts and evolving market dynamics.
Key protocol upgrades, notably the implementation of EIP-4844 and the broader Dencun update, played a crucial role in enabling this record by scaling Ethereum’s capacity and improving its efficiency. These enhancements addressed critical bottlenecks, facilitating the increased throughput.
Substantial institutional participation has emerged as a major driver alongside sustained DeFi engagement and commitment to ETH staking. The record transaction volume represents a major milestone, demonstrating Ethereum’s expanding adoption and its significant role across multiple blockchain use cases.