ETH transaction count rising amid $5K push, but competition erodes market share

Key Points

1. Ethereum recorded over 1.7 million transactions on Tuesday, with daily transaction counts near all-time highs.

2. Layer-2 networks like Arbitrum and Base recorded over 3.4 million transactions, highlighting competition within Ethereum's ecosystem.

3. Active addresses on Ethereum have remained flat since 2018, fluctuating between 400,000-600,000, with occasional spikes above 1 million.

4. Ethereum's network fees have significantly declined since 2022, partly due to the Dencun upgrade, reducing costs for layer-2 networks.

5. High-throughput layer-1 networks like Solana and Sui are competing with Ethereum, challenging its scaling and execution roadmap.