- Ethereum 7-day transaction average approaches 2.5 million, marking an all-time record.
- Average gas fees drop to $0.15 with some swaps executed for as low as $0.04.
- Stablecoin transfers comprise 35-40% of network activity while ETH staking hits 36M.
Ethereum’s transaction volume has reached all-time highs while gas fees have declined to the lowest levels in network history. The seven-day moving average of transactions is approaching 2.5 million, nearly double the volume recorded one year ago. This surge in activity began in mid-December, reversing a gradual decline that persisted through mid-2025.
Average gas fees have fallen to approximately $0.15 per transaction according to network data, with Etherscan recording estimated swap costs as low as $0.04. The combination of peak transaction activity alongside historically low costs shows a shift for Ethereum. ETH had previously faced criticism for high and unpredictable fees that excluded smaller users during congestion periods.
Source: THE BLOCKProtocol Upgrades Enable Cost Reduction
The activity surge occurs 7 weeks after the implementation of Ethereum’s Fusaka hard fork, which introduced PeerDAS (Peer Data Availability Sampling) and initiated the network’s twice-yearly upgrade schedule. The Blob Parameters Only fork deployed on January 8 pushed the blob target to 14 with a maximum cap of 21, reducing data costs for Layer 2 rollup solutions.
Ethereum’s block gas limit increased from 45 million to 60 million in late November, representing a 100% rise from early 2025 levels. As execution has shifted toward Layer 2 networks, demand for mainnet blockspace has eased despite climbing overall activity levels. This has contributed to the current low-fee environment.
Stablecoin Activity Drives Transaction Growth
Stablecoin transfers account for approximately 35-40% of Ethereum transactions during the current period. This category has become a primary driver of network usage as users leverage Ethereum infrastructure for dollar-denominated value transfer. The low-cost environment makes stablecoin transactions more economically viable for smaller transfers.
Ethereum staking has reached a record 36 million ETH locked, representing roughly 30% of the circulating supply. This milestone shows continued validator participation despite market volatility. ETH currently trades around $3,200, posting gains of 3.6% over seven days and 8.1% over 30 days. The token declined 2.8% over the past 24 hours.
The fee collapse shows reduced mainnet demand as Layer 2 solutions absorb execution load. Rollups now handle the majority of transaction processing while settling to the Ethereum mainnet periodically. This architecture enables the network to process more aggregate activity while maintaining low base-layer costs.
Related: Vitalik Buterin Urges Ethereum Simplicity to Ensure Trustlessness
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Source: https://coinedition.com/ethereum-transactions-hit-all-time-high-as-gas-fees-fall-to-0-15-record-low-level/
