On August 5, 2025, the Ethereum network recorded a record daily transaction volume of 1.74 million, according to data from the analytics platform The Block. This is the highest figure in the history of the network, surpassing the previous peak set in December 2021.
The next day, August 6, activity remained at the same level. In total, over July 2025, more than 46.67 million transactions were conducted on the network — another historical record, exceeding the previous achievement from May 2021 (45.06 million).
What contributes to the increase in activity?
One of the key factors has been the increase in the gas limit to 45 million — 25% more than in February 2025. This has allowed more transactions to be processed per unit of time.
Analysts also link the surge in activity to the growing interest from institutional players. In particular, Ethereum remains the main platform for stablecoins, and companies are increasingly forming reserves based on it.
Outflow $ETH from exchanges — a signal of trust
Another positive signal is the decrease in the amount of ETH on centralized exchanges. This may indicate investors' trust in the asset and reduced pressure from sellers, which is traditionally considered a bullish factor.
Threat to deflationary status
Despite the increase in activity, the overall supply $ETH continues to grow and currently exceeds 120 million coins (according to Ultrasound Money). With low fees, this could call into question the deflationary nature of the asset. High network activity can partially offset this risk.
Experts believe that the next powerful driver for the development of the Ethereum ecosystem and the rise in its price could be the official approval of staking within spot Ethereum ETFs.
