Ethereum Hits Major Milestone: Daily Activity Surges to 1.74M Transactions

Ethereum’s network activity has reached extraordinary levels in early August, with the protocol processing record-breaking transaction volumes across multiple metrics. On August 5, the 7-day moving average for daily transactions climbed to 1.74 million, marking a significant breakthrough compared to the previous benchmark of 1.65 million transactions recorded back in May 2021.

Monthly Record Shatters Previous Benchmarks

July proved to be a turning point for Ethereum’s throughput capacity. The network processed a cumulative total of 46.67 million transactions throughout the month—the highest monthly volume in Ethereum’s operational history. This surge reflects both increased network adoption and heightened on-chain activity, with current 24-hour trading volume standing at approximately $467.86 million.

Chain Activity Approaches Historic Peaks

The surge in transaction volume coincides with a spike in active participants on the network. On August 5, the count of active Ethereum addresses reached 683,520, drawing closer to the all-time high of 743,730 addresses recorded during the May 2021 peak. This metric suggests that user engagement and network participation remain robust despite market volatility.

What This Means for the Network

These consecutive record-breaking figures demonstrate Ethereum’s capacity to handle sustained demand while maintaining network performance. Whether this trend continues will be closely watched by developers and traders alike, as sustained high activity could signal growing confidence in the platform’s scalability and real-world utility across decentralized finance, NFTs, and other on-chain applications.