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Yesterday, Ethereum recorded 1.75M transactions, the highest since January 2024. In May, monthly transactions reached 41.98M, marking the second-best month ever and the strongest month since May 2021.
The surge is largely driven by stablecoin activity, which has soared in recent months, as over 50% of all stablecoins issued last month were on Ethereum.
Additional factors include strong institutional demand reflected in high Ethereum ETF inflows, and increased network capacity and efficiency following the Pectra upgrade.
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