#Ethereum surpasses its daily transaction record from 2021
A cocktail of Stablecoins, ETFs, and Corporate Treasuries drives a new all-time high.
The Ethereum network has reached a monumental milestone, recording a new all-time high of 1.74 million daily transactions (on a seven-day moving average) on August 5th.
This peak surpasses the previous record of 1.65 million set in May 2021, a powerful signal of the growing activity on the blockchain.
Stablecoins and DeFi as Catalysts
According to Min Jung, an analyst at Presto Research, this growth reflects a surge in DeFi activity, with stablecoins as the main players. The growing interest in yield strategies, especially in anticipation of a drop in interest rates, has driven more on-chain transactions.
Institutional Accumulation: Experts like Vincent Liu from Kronos Research point out that interest in Ethereum is also being driven by regulatory clarity in the U.S. and institutional accumulation. Dozens of companies have adopted treasury strategies in Ethereum, with accumulated holdings exceeding $7.5 billion.
Improved Scaling Capacity: The increase in the block gas limit to 45 million has been crucial, as it has increased the network's capacity to handle more transactions, avoiding bottlenecks and maintaining reasonable fees.
Price on Hold: Despite the record activity, the price of #ETH still does not fully reflect the growth, moving with more caution. Liu suggests that the market is "calibrating" and that a further rise could be unlocked with the approval of Ethereum staking ETFs, turning ETH into a yield-generating asset for institutions.