Ethereum's daily transaction volume hits a record high of 1.74 million

According to reports, as of August 5th, Ethereum's daily transaction volume reached 1.74 million, setting a historic high, surpassing the peak in 2021. The total number of transactions in July reached 46.67 million, and the number of active addresses rose to 683,500. This growth is mainly attributed to the increase of the Ethereum block gas limit to 45 million. Additionally, stablecoins and the ETH treasury strategy have become major driving factors. Analysts at Presto Research pointed out that the increase in DeFi activity and demand for arbitrage strategies also contributed to the growth of on-chain transactions. The Chief Information Officer of Kronos Research noted that the advancement of regulation in the United States and the influx of institutional funds have also supported the popularity of Ethereum. It is reported that the total value of ETH currently held by public companies has exceeded $7.5 billion.